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Update: Block Posts Higher Q1 Adjusted Earnings, Revenue; Shares Up 6%

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-- (Updates to add stock movement in the headline and last paragraph)

Block (ASX:XYZ) reported Friday first quarter adjusted earnings of $0.85 per share, up from $0.56 a year earlier.

Analysts polled by FactSet expected earnings of $0.68.

Revenue for the three months ended March 31 was $6.06 billion, compared with $5.77 billion a year earlier.

Analysts surveyed by FactSet expected $6.04 billion.

The company expects to deliver 62% year-over-year growth in adjusted earnings to $3.85 in 2026, alongside an 19% increase in gross profit to $12.33 billion, and a 27% rise in adjusted operating income to $3.34 billion.

Analysts polled by FactSet expect earnings of $3.67.

The company's shares rose 6% in recent Friday trade.

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