Block Inc.'s second-quarter gross profit was $2.54 billion, a 14% year-on-year increase.

Jack Dorsey's Block Inc. reported its latest quarterly earnings on Thursday, reporting gross profit of $2.54 billion in the second quarter, a 14% year-over-year increase. In a separate letter to shareholders, Block said it has raised its 2025 gross profit forecast to $10.17 billion, up from its previous forecast of $9.96 billion. The company reported a $212.17 million revaluation loss on its Bitcoin investment this quarter, a significant reversal from the $70.12 million revaluation gain reported in the same period last year. The report stated that the loss primarily reflected a decline in the fair value of its Bitcoin holdings.