Block (NYSE: SQ) reported Q2 EPS of $0.93, $0.09 better than the analyst estimate of $0.84. Revenue for the quarter came in at $6.16 billion versus the consensus estimate of $6.26 billion.

Guidance Q3 2024 Gross Profit $2.22B YoY Growth 17% Adjusted EBITDA1 $695M % Margin 31% Adjusted Operating Income1 $320M % Margin 14% Q3 2024 OUTLOOK Current 2024 Previous 2024 Gross Profit $8.89B $8.78B YoY Growth 18% 17% Adjusted EBITDA1 $2.90B $2.76B % Margin 33% 31% Adjusted Operating Income1 $1.44B $1.30B % Margin 16% 15% Rule of 40 35% 32% 2024

OUTLOOK We are raising our full-year outlook to reflect outperformance in the second quarter and our improved expectations for the remainder of the year. For the full year, we expect gross profit of at least $8.89 billion, or 18% growth year over year. For Adjusted Operating Income, we expect at least $1.44 billion, or 16% margin for the full year. We remain focused on achieving Rule of 40 in 2026, which we calculate as gross profit growth plus Adjusted Operating Income margin. Our updated guidance for the full year equates to a Rule of 35, an increase compared to our prior guidance of Rule of 32 and an improvement compared to the prior year. Our outlook does not assume any additional macroeconomic deterioration, which could impact results.

For earnings history and earnings-related data on Block (SQ) click here.