THE BLOCK · 2026-11-04 04:13 UTC

Block Inc. shares rise 6% after-hours as it raises full-year profit forecast

Block Inc. raised full-year gross profit forecast to $12.63 billion, representing 22% year-on-year growth, after reporting Q3 net income of $566 million, up from $462 million a year earlier. Cash App gross profit rose 27% year-on-year to $2.07 billion, but bitcoin ecosystem gross profit fell 50% to $52 million due to Block's decision to lower fees on bitcoin transactions. Block shares jumped 6.2% in after-hours trading following the earnings release and raised guidance, though they closed down 1.4% during regular trading.

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