Block Inc. (Nasdaq: XYZ), Jack Dorsey's Bitcoin-centric fintech company reported the financial results for Q4 2025 on Feb. 26.
The company generated adjusted earnings per share (EPS) of $0.65 on revenue of $6.25 billion. Analysts surveyed by London Stock Exchange Group (LSEG) had projected EPS of $0.65 on $6.24 billion in revenue.
Gross profit for the quarter jumped 24% year-over-year to $2.87 billion, fueled by a 33% surge in Cash App gross profit ($1.83 billion).
The company expects to generate $12.2 billion in gross profit with the adjusted EPS of $3.66 in 2026.
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Dorsey announces layoffs
But thanks to its tight embrace of artificial intelligence (AI) like most tech companies, Block has decided to fire 40% of its staff.
Dorsey shared on X that Block will lay off more than 4,000 employees as part of a sweeping restructuring effort unveiled alongside its Q4 2025 earnings report.
The move will reduce Block's headcount from more than 10,000 employees to just under 6,000, according to Dorsey.
"Intelligence tools have changed what it means to build and run a company," Dorsey wrote. "We believe Block will be significantly more valuable as a smaller, faster, intelligence-native company."
Despite the significant workforce reduction, investors reacted positively. Block's stock surged more than 22% in extended trading hours following the announcement to trade at $66.62 at the time of writing.
Trending on TheStreet Roundtable:
Block's Bitcoin plan
Founded in 2009, Block joined the S&P 500 index in July last year. Over the years, the company has integrated Bitcoin into several of its products:
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Cash App, a wallet that allows Bitcoin investing
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Bitkey, a self-custody Bitcoin hardware wallet
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Proto, a Bitcoin mining system
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Square, a point-of-sale system launching Bitcoin integration soon
The aggressive Bitcoin integration is no surprise, given the fact that Dorsey himself is a strong Bitcoin believer. He once said that if he weren't working on his other ventures, he would be working on Bitcoin.
During an interview in May 2024, he predicted that Bitcoin's price will hit at least $1 million in 2030 . Nobody knows what he thinks of that forecast amid the recent crypto crash.
Bitcoin was trading at $67,480.15 at press time, down 2% over the last 24 hours.
This story was originally published by TheStreet on Feb 26, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
