Block (XYZ) Q1 FY2026 earnings: revenue $6.1 billion, up 4.9% on the year

Block, Inc. (XYZ) reported revenue of $6.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 4.9% on the same quarter a year earlier. Net income was -$309 million, and diluted earnings per share $-0.52. The figures are the company's own, from the 10-Q it filed with the SEC on 7 May 2026.

Revenue

$6.1 billion

+4.9% on the year · -3.1% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

-2.8%

5.7% a year earlier

Q2 FY2024Q1 FY2026

Net income

-$309 million

Q2 FY2024Q1 FY2026

Diluted EPS

-$0.52

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised.

Gross profit grew 27% year over year: Gross profit reached $2.91 billion, up 27%, with growth accelerating in both Cash App and Square.
Adjusted Diluted EPS rose 52%: Adjusted Diluted EPS reached $0.85, up 52% year over year, while the GAAP result was a net loss per share.
Cash App gross profit up 38%: Cash App gross profit reached $1.91 billion, with Borrow, BNPL and Cash App Card driving growth, and commerce volume up 18%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	6,057	6,252	5,772	-3.1%	+4.9%
Cost of revenue	3,148	3,380	3,482	-6.9%	-9.6%
Gross profit	2,909	2,872	2,290	+1.3%	+27.1%
Gross margin	48.0%	45.9%	39.7%
Research and development	1,039	711	761	+46.2%	+36.6%
Operating income	-172	485	329
Operating margin	-2.8%	7.8%	5.7%
Interest expense	53.2	n/a	n/a
Pre-tax income	-393	202	227
Income tax	-84.0	86.4	38.3
Effective tax rate	n/a	42.8%	16.9%
Net income	-309	116	190
Net margin	-5.1%	1.9%	3.3%
Diluted EPS	-$0.52	$0.19	$0.30

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	966	621	133	+55.5%	+624.2%
Capital expenditure	30.6	41.2	31.9	-25.8%	-4.1%
Free cash flow	935	580	101	+61.3%	+821.6%
Free cash flow margin	15.4%	9.3%	1.8%
Cash from investing	300	-2,130	915		-67.2%
Cash from financing	-252	39.8	-1,212
Depreciation and amortisation	96.0	96.1	88.9	-0.1%	+7.9%
Share-based compensation	339	294	315	+15.4%	+7.4%
Buybacks	636	790	445	-19.5%	+42.8%
Diluted shares, weighted	598m	614m	635m	-2.7%	-5.9%
Shares outstanding at period end	595m	599m	615m	-0.7%	-3.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	21,715	22,204	21,469	-2.2%	+1.1%
Non-controlling interest	-34.3	-34.4	-34.1
Debt	7,835	8,654	5,727	-9.5%	+36.8%
Operating lease liabilities	242	257	266	-5.7%	-8.7%
Other liabilities	10,228	8,469	8,968	+20.8%	+14.1%
Total liabilities and equity	39,986	39,550	36,396	+1.1%	+9.9%
Fixed assets	295	323	311	-8.8%	-5.3%
Goodwill	11,956	11,849	11,504	+0.9%	+3.9%
Intangible assets	1,246	1,282	1,391	-2.8%	-10.5%
Securities held for sale or to maturity	617	707	628	-12.7%	-1.8%
Cash and equivalents	6,858	6,564	7,089	+4.5%	-3.3%
Receivables	243	238	167	+1.8%	+45.3%
Inventory	174	158	109	+10.1%	+60.2%
Other assets	18,597	18,429	15,196	+0.9%	+22.4%
Total assets	39,986	39,550	36,396	+1.1%	+9.9%

Questions

What was Block's revenue in Q1 FY2026?

Block (XYZ) reported revenue of $6.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 4.9% on the same quarter a year earlier.

How much did Block earn in Q1 FY2026?

Net loss for Q1 FY2026 was $309 million, and the diluted loss per share $0.52.

When did Block report Q1 FY2026 results?

Block filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 7 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022 †	Q2 FY2022	Q3 FY2022	Q4 FY2022 * †	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	4,079	3,961	4,404	4,516	4,651	4,990	5,535	5,617	5,773	5,957	6,156	5,976	6,033	5,772	6,054	6,115	6,252	6,057	6,618	6,719
Cost of revenue	2,896	2,666	2,935	2,948	2,991	3,276	3,669	3,719	3,747	3,863	3,922	3,726	3,721	3,482	3,518	3,453	3,380	3,148	3,452	3,484
Gross profit	1,182	1,295	1,470	1,567	1,660	1,715	1,866	1,898	2,026	2,094	2,233	2,250	2,311	2,290	2,537	2,662	2,872	2,909	3,166	3,235
Gross margin	29%	33%	33%	35%	36%	34%	34%	34%	35%	35%	36%	38%	38%	40%	42%	44%	46%	48%	48%	48%
R&D	397	458	525	548	605	627	695	714	685	721	713	711	770	761	725	711	711	1,039	609	636
Operating income	-54.6	-227	-214	-48.8	-135	-6.2	-132	-9.9	-131	250	307	323	13.0	329	484	409	485	-172	447	428
Operating margin	-1%	-6%	-5%	-1%	-3%	-0%	-2%	-0%	-2%	4%	5%	5%	0%	6%	8%	7%	8%	-3%	7%	6%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	53.2	55.7	48.1
Pre-tax income	-74.4	-209	-208	-36.0	-112	-21.4	-130	15.8	106	506	249	324	278	227	659	602	202	-393	301	612
Tax rate	n/a	n/a	n/a	n/a	n/a	n/a	n/a	314%	-49%	7%	24%	13%	-468%	17%	18%	23%	43%	n/a	71%	8%
Net income	-76.8	-204	-208	-14.7	-114	-16.8	-123	-29.0	178	472	195	284	1,946	190	538	462	116	-309	88.5	566
Net margin	-2%	-5%	-5%	-0%	-2%	-0%	-2%	-1%	3%	8%	3%	5%	32%	3%	9%	8%	2%	-5%	1%	8%
Diluted EPS	-$0.15	-$0.38	-$0.36	-$0.02	-$0.17	-$0.03	-$0.20	-$0.05	$0.28	$0.74	$0.31	$0.45	$3.05	$0.30	$0.87	$0.74	$0.19	-$0.52	$0.15	$0.92
Operating cash flow	175	229	-115	15.7	45.4	294	113	491	-798	489	519	685	13.8	133	374	1,451	621	966	1,020	1,016
Capital expenditure	36.3	41.2	44.2	36.3	49.1	32.3	29.5	37.7	51.7	32.0	38.4	56.6	27.0	31.9	31.3	50.6	41.2	30.6	53.2	44.2
Free cash flow	139	188	-159	-20.6	-3.7	262	83.8	453	-850	457	481	628	-13.2	101	343	1,400	580	935	967	972
Buybacks	n/a	n/a	n/a	n/a	n/a	0.0	0.0	0.0	157	252	390	346	183	445	692	403	790	636	64.9	0.0
Shares outstanding	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	619m	615m	610m	608m	599m	595m	601m	605m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 7 May 2026: the filing.