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Block’s bitcoin gross profit drops after Cash App fee cuts

The Block said it raised its 2026 gross profit forecast to $12.51 billion following record adjusted operating income.

Reported · Written up by our desk · Market Structure

Block, the payments company behind Cash App, reported that its bitcoin gross profit fell 31% after it cut Cash App fees, a move that weighed on the company’s crypto-related results, The Block reported.

In the same update, The Block said Block increased its forecast for 2026 gross profit to $12.51 billion.

The company also posted record adjusted operating income, and The Block linked the stronger operating performance to the higher gross profit outlook.

Shares that initially moved higher after the report reversed gains, The Block said.

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