Jack Dorsey's Block raised its full-year gross profit outlook to $12.33 billion for 2026, up from a prior forecast of $12.20 billion, as the payments firm benefited from resilient U.S. consumer spending.
Shares jumped 7% in after-hours trading.
The company reported first-quarter gross profit surged 27%, fueled by strong performance in Cash App-where consumer lending originations soared 82% to $17.6 billion-and Square.
Adjusted profit rose to $513 million, or $0.85 per share, from $355 million a year earlier.
Block recorded $852 million in restructuring charges tied to plans to cut over 4,000 jobs and embed artificial intelligence across operations.