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Block's Q2 revenue rise, stock price up 6% after hours.
According to reports, Twitter co-founder’s payment platform Block Inc announced a rise in revenue for the second quarter of this year, driving its stock price up 6% in after-hours trading on Thursday.
According to the latest quarterly financial report disclosed on Thursday, Block achieved a gross profit of $2.54 billion in the second quarter, a year-on-year increase of 14%. In another letter to shareholders, the company stated that it has raised its gross profit expectation for 2025 to $10.17 billion, up from the previously expected $9.96 billion.
In the second quarter, the net profit attributable to common stockholders of the Block was 538.46 million USD, compared to a net profit of 195.27 million USD in the same period last year.