On August 6, Block, Inc. rose 3.33% in after-hours trading, trading at approximately $88.25/share, with turnover of $9.75 million. The move came immediately following the release of the company's Q2 financial results.

On the news front, Block published its Q2 earnings report after the close, with the market having anticipated adjusted earnings per share of $0.48. Heading into the report, multiple investment banks maintained optimistic stances on the stock. UBS reiterated a buy rating with a $92 price target, noting that Block's medium-term guidance calling for similar gross profit and gross payment volume growth is achievable. Morgan Stanley maintained an overweight rating with a $96 target, citing accelerating Square GPV growth to 8.2%, Cash App gross profit rising 38% year over year, and AI tools driving over 2.5x increases in production code changes per engineer.

The positive after-hours reaction was underpinned by strong momentum from Q1, when Block beat expectations and raised full-year EPS guidance to $3.85 versus FactSet estimates of $3.67, alongside the company's plan to significantly increase go-to-market spending in Q2 targeting high-ROI growth opportunities.

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