On August 8, according to reports, Twitter co-founder Jack Dorsey's payment platform Block Inc reported 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 report disclosed on Thursday, Block achieved a gross profit of $2.54 billion in the second quarter, a year-on-year rise of 14%. The company stated in another shareholder letter that it has raised its gross profit forecast for 2025 to $10.17 billion, higher than the previous estimate of $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.