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Block

XYZ Q4 2025 Earnings

Reported Feb 26, 2026 at 4:06 PM ET · SEC Source

Q4 25 EPS

$0.65

BEAT +1.67%

Est. $0.64

Q4 25 Revenue

$6.25B

MISS 1.41%

Est. $6.34B

vs S&P Since Q4 25

+1.6%

BEATING MARKET

XYZ +6.6% vs S&P +5.1%

Full Year 2025 Results

FY 25 EPS

$2.37

MISS 0.69%

Est. $2.39

FY 25 Revenue

$24.19B

MISS 0.37%

Est. $24.28B

Market Reaction

Did XYZ Beat Earnings? Q4 2025 Results

Block delivered a mixed but strategically charged Q4 2025, posting adjusted EPS of $0.65 against a consensus estimate of $0.64, a beat of 1.67%, while revenue of $6.25 billion came in just shy of the $6.34 billion estimate, a miss of 1.41%, though st… Read more Block delivered a mixed but strategically charged Q4 2025, posting adjusted EPS of $0.65 against a consensus estimate of $0.64, a beat of 1.67%, while revenue of $6.25 billion came in just shy of the $6.34 billion estimate, a miss of 1.41%, though still up 3.6% year over year. The headline story, however, was less about the top line and more about the company's sweeping announcement that it would cut its workforce by over 40%, reducing headcount from more than 10,000 to under 6,000, framing the move as a proactive bet on AI rather than a distress signal. Underneath the restructuring noise, the business showed genuine acceleration, with gross profit growing 24% year over year and Cash App gross profit surging 33%, driven by explosive consumer lending growth. Raymond James upgraded the stock following the results. Looking ahead, Block raised its 2026 guidance to $12.20 billion in gross profit and $3.66 in adjusted diluted EPS, with the full cost benefits from the workforce reduction expected to materialize in the second half of the year.

Key Takeaways

  • • Cash App gross profit growth of 33% YoY driven by Borrow, BNPL products, and Cash App Card
  • • Cash App Borrow origination volume grew 223% YoY
  • • Consumer lending origination volume grew 69% YoY to $18.5 billion
  • • Primary Banking Actives grew 22% YoY to 9.3 million in December
  • • Square GPV grew 10% YoY to $65.0 billion
  • • Food and beverage GPV grew 16% YoY with churn at lowest levels since 2019
  • • Square NVA growth accelerated to 29% in Q4, strongest since Q1 2021
  • • Sales-led NVA grew 62%, exceeding 40% growth target
  • • Commerce Enablement volume grew 17% YoY to $54.7 billion
  • • Inflows per transacting active growth accelerated to 12% YoY
  • • Cash App Monthly Transacting Actives grew to 59 million

XYZ Forward Guidance & Outlook

Block raised its full-year 2026 guidance, now expecting gross profit growth of 18% YoY to $12.20 billion, Adjusted Operating Income of $3.20 billion (26% margin, 54% YoY growth), Adjusted Diluted EPS of $3.66 (54% YoY growth), and Rule of X of 44%. For Q1 2026, the company expects gross profit of $2.80 billion (22% YoY growth), Adjusted Operating Income of $600 million (21% margin, 29% YoY growth), and Adjusted Diluted EPS of $0.67 (20% YoY growth). The workforce reduction announced today is expected to begin impacting Adjusted Operating Income more meaningfully in Q2 2026, with the full cost structure benefit in H2 2026. Through February 24, quarter-to-date Square GPV growth has accelerated to over 12%.

24/7 Wall St

XYZ YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

XYZ Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q4 25

“We're reducing Block by nearly half, from over 10,000 people to just under 6,000, which means that over 4,000 people are being asked to leave or entering into consultation.”

— Jack Dorsey, Q4 2025 Earnings Press Release

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