Jack Dorsey’s Block Inc. reported an increase in income in the second quarter, prompting its shares to rise 6% during after-hours trading on Thursday.
In its latest quarterly earnings report disclosed Thursday, Block reported $2.54 billion in gross profit in the second quarter of this year, up 14% year-on-year. The company said in a separate shareholder letter that it has raised its gross profit forecast for 2025 to $10.17 billion, revised upward from its earlier forecast of $9.96 billion.
Block booked $538.46 million in net income attributable to common stockholders in the second quarter, compared to a net income of $195.27 million in the same period last year.
Block, a financial services and technology company formerly known as Square, operates several business units within the crypto asset ecosystem. According to its earnings report, the company holds bitcoin both as a long-term investment and to facilitate customer bitcoin transactions.
In the second quarter, it added 108 BTC, bringing its total holdings to 8,692 BTC as of the end of June. The company recorded a $212.17 million remeasurement loss on its bitcoin investment during the quarter, a significant reversal from the $70.12 million remeasurement gain it reported in the same period last year. Such loss mainly reflects the decrease in the fair value of its bitcoin holdings, according to the report.
Block’s stock, trading under the ticker XYZ, closed up 0.95% on Thursday and gained another 6.15% in after-hours trading, according to Yahoo Finance data.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
