Block raised its full-year guidance after releasing second-quarter results, lifting gross profit expectations to $12.51 billion from $12.33 billion and adjusted operating income guidance to $3.47 billion from $3.34 billion. CFO Amrita Ahuja said strong execution in the first half created momentum for growth in the second half. In its shareholder letter, the fintech company said agentic AI had, by June, assisted in writing and reviewing nearly all production code changes. The update follows a February move in which Block cut 4,000 jobs as part of an AI-driven restructuring. Owen Jennings, who leads the business, also said the amount of code changes per engineer is now up 150% from the start of the year. The report was cited by Cointelegraph and published by Techub.
Block raised its full-year outlook after reporting second-quarter results, increasing its gross profit guidance to $12.51 billion from $12.33 billion and its adjusted operating income guidance to $3.47 billion from $3.34 billion.
CFO Amrita Ahuja said the company’s strong execution in the first half had created growth momentum for the second half.
In its shareholder letter, Block said that by June, agentic AI had assisted in writing and reviewing nearly all production code changes. Earlier, in February, the company cut 4,000 jobs as part of an AI-driven restructuring.
Owen Jennings, who leads the business, said the volume of code changes per engineer is now 150% higher than at the start of the year.
The item was cited from Cointelegraph and published by Techub.
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