<\/p>\n
Block Inc. shares rose after the payments company reported stronger adjusted earnings for Q1 2026, even as its Bitcoin business weakened and the firm posted a net loss.\u00a0<\/strong><\/p>\n <\/p>\n The reaction showed investors focused more on adjusted results than the reported loss in the quarter as well.<\/p>\n Google Finance showed<\/a> Block stock at $75.70 in after-hours trading, up 7.93%, after closing at $70.14. The move came after the company reported adjusted diluted earnings per share of $0.85, above the $0.68 estimate shown by Google Finance.<\/p>\n Block reported<\/a> total net revenue of $6.06 billion for the quarter ended March 31, up from $5.77 billion a year earlier. Gross profit reached $2.91 billion, up 27% year over year, according to the company\u2019s shareholder letter.<\/p>\n Still, the headline profit picture stayed mixed. Block reported a net loss attributable to common stockholders of $308.7 million, compared with net income of $189.9 million in the same quarter last year. Operating expenses rose to $3.08 billion from $1.96 billion.<\/p>\n <\/p>\n Bitcoin remained a major part of Block\u2019s revenue base, but it weakened in the first quarter. Bitcoin ecosystem revenue fell to $1.80 billion from $2.33 billion a year earlier. Bitcoin ecosystem gross profit dropped to $68 million from $92 million.<\/p>\n Block said the decline came from \u201cbitcoin trading dynamics\u201d and a decision to reduce fees on some Bitcoin transactions in Cash App. The company also recorded a $172.8 million Bitcoin remeasurement loss, compared with a $93.4 million loss a year earlier.<\/p>\n Moreover, Cash App provided the main growth engine for Block during the quarter. Its gross profit reached $1.91 billion, up 38% from a year earlier. Square gross profit rose 9% to $982 million, while Block lifted its full-year gross profit outlook to $12.33 billion.<\/p>\n\n
Bitcoin revenue falls as fees change<\/strong><\/h2>\n