Block, Inc. announced its first-quarter 2025 financial results on May 1, 2025, reporting a 3% year-over-year decrease in revenue to $5.77 billion, missing analyst expectations of $5.96 billion. Gross profit rose 9% to $2.29 billion, but also fell short of forecasts of $2.32 billion.
The company's adjusted earnings per share came in at $0.56, significantly missing the average analyst estimate of $0.88. Block cited a more cautious stance on the macroeconomic outlook, including the impact of new tariffs, as a reason for its weaker-than-expected performance and outlook.
For the second quarter, Block projected gross profit of $2.45 billion, below analyst expectations of $2.54 billion. The full-year 2025 gross profit guidance was cut to $9.96 billion, down from the previous $10.2 billion, reflecting ongoing concerns about consumer spending and a soft macro environment. Cash App's gross profit was up 10% to $1.38 billion, but was softer than expected, with monthly active users remaining flat at 57 million.
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