Fintech company Block Inc. (XYZ) on Thursday reported a wider first-quarter loss, despite growth in revenues.
Net loss attributable to common stockholders widened to $308.68 million, or $0.52 loss per share, from a net loss of $189.87 million, or $0.30 earnings per share, in the year-ago quarter.
Adjusted earnings increased to $0.85 per share from $0.56 per share a year ago.
Revenue increased 4.9% to $6.06 billion from $5.77 billion last year.
Cash App gross profit surged 38% to $1.91 billion, while Square gross profit increased 9% to $982 million. Cash App monthly transacting actives increased 4% year-over-year to 59 million, while Primary Banking Actives rose 18% to 9.7 million.
Looking ahead, the company raised its full-year 2026 outlook and now expects gross profit of $12.33 billion, representing 19% growth year-over-year. Adjusted earnings are projected at $3.85 per share for the year.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.