Filing Flows › Block (XYZ) › Q2 2026 › vs Q2 2025
Block (XYZ) Q2 2026 vs Q2 2025 (year over year)
Block's revenue rose $563M (+9%) from $6.1B in Q2 2025 to $6.6B in Q2 2026. The biggest changes: Commerce enablement revenue +$443M (+15%); Financial solutions revenue +$398M (+40%); Bitcoin ecosystem revenue −$278M (-13%). Gross margin 47.8% against 41.9% (+5.9 pts).
Block, Q2 2026: revenue $6.6B (+9% year over year), operating margin 6.8%, net earnings $87.1M, operating cash flow $1.0B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 47.8% | 41.9% | +5.9 pts |
| Operating margin | 6.8% | 8.0% | -1.2 pts |
| Net margin | 1.3% | 8.9% | -7.6 pts |
| Free cash flow margin | 14.6% | 5.7% | +8.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Commerce enablement revenue | $3.3B | $2.9B | $443M | +15% |
| Bitcoin ecosystem revenue | $1.9B | $2.2B | −$278M | -13% |
| Financial solutions revenue | $1.4B | $985M | $398M | +40% |
| Revenue | $6.6B | $6.1B | $563M | +9% |
| Gross profit | $3.2B | $2.5B | $630M | +25% |
| Cost of revenue | $3.5B | $3.5B | −$66.3M | -2% |
| Operating profit | $447M | $484M | −$37.4M | -8% |
| Operating expenses | $2.7B | $2.1B | $667M | +32% |
| Pre-tax earnings | $301M | $659M | −$358M | -54% |
| Other expense, net | $145M | −$175M | $320M | — |
| Research & development | $609M | $725M | −$117M | -16% |
| Sales & marketing | $665M | $550M | $115M | +21% |
| General & admin | $826M | $449M | $377M | +84% |
| Other operating costs | $620M | $328M | $292M | +89% |
| Net earnings | $87.1M | $538M | −$451M | -84% |
| Income tax | $214M | $121M | $93.4M | +77% |
| Depreciation & amortization | $95.1M | $92.4M | $2.7M | +3% |
| Share-based compensation | $260M | $297M | −$37.6M | -13% |
| Working capital & other | $578M | −$554M | $1.1B | — |
| Operating cash flow | $1.0B | $374M | $645M | +172% |
| Free Cash Flow (company-reported) | $967M | $343M | $623M | +182% |
| Purchase of property and equipment | $53.0M | $31.0M | $22.0M | +71% |
Questions
How much did Block's revenue grow year over year in Q2 2026?
Block's revenue rose $563M (+9%) from $6.1B in Q2 2025 to $6.6B in Q2 2026.
What drove Block's revenue change in Q2 2026?
Commerce enablement revenue +$443M (+15%); Financial solutions revenue +$398M (+40%); Bitcoin ecosystem revenue −$278M (-13%).