NewsMV
An adjusted EPS of $1.02 put Block Inc. (NYSE: XYZ) well past the $0.87 Wall Street consensus on August 5, and the company raised full-year guidance across the board. Shares fell roughly 6% in the following session.
What the tape chose to act on was Cash App's monthly transacting actives: growth of just 3% year-over-year in June. The numbers on the quarter Second-quarter gross profit rose 25% year-over-year.
Adjusted operating income margin reached an all-time high of 27%, and management frames the improvement as durable, tracing it to the February workforce reduction of 40% where AI tools replaced headcount.
Code changes per engineer have climbed 150% since the start of the year.
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