Block announced strong Q4 earnings, with revenue reaching $485 million and adjusted EBITDA reaching $588 million, and raised its 2026 gross profit forecast to $12.2 billion. The company is transitioning to an AI-centric business model and has reduced its workforce by over 40%, with current employee count below 6,000. Additionally, Block added 103 more Bitcoin, bringing its total Bitcoin holdings to 8,883. Cash App's financial services gross profit reached $865 million, surpassing expectations; Square's GPV growth rate accelerated to 7.5%. Following the earnings release, Block's stock surged over 22% in after-hours trading.
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Block announced strong Q4 earnings, with revenue reaching $485 million and adjusted EBITDA reaching $588 million, and raised its 2026 gross profit forecast to $12.2 billion. The company is transitioning to an AI-centric business model and has reduced its workforce by over 40%, with current employee count below 6,000. Additionally, Block added 103 more Bitcoin, bringing its total Bitcoin holdings to 8,883. Cash App's financial services gross profit reached $865 million, surpassing expectations; Square's GPV growth rate accelerated to 7.5%. Following the earnings release, Block's stock surged over 22% in after-hours trading.