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Block Q3 Gross Profit Rises 22% to $3.24 Billion
Block reported third-quarter gross profit of $3.24 billion, up 22% from a year earlier. Cash App gross profit rose 27% to $2.07 billion and Square's increased 14% to $1.16 billion. Block raised its 2026 gross-profit forecast to $12.63 billion, while bitcoin gross profit fell 50% to $52 million.
Published:
Updated:
What happened
Block reported third-quarter gross profit of $3.24 billion, up 22% from a year earlier. Cash App gross profit rose 27% to $2.07 billion and Square’s increased 14% to $1.16 billion. Block raised its 2026 gross-profit forecast to $12.63 billion, while bitcoin gross profit fell 50% to $52 million.
Confirmed
Global impact / market context
The results show growth in both Cash App and Square, while lower fees on some Cash App bitcoin transactions reduced bitcoin profit despite $1.8 billion in related revenue. If the forecast is achieved, higher gross profit could support Block’s operating resources, but the report does not establish future performance.
Analyst inference
Block’s shares rose about 8% at one point in after-hours trading following the reported results and raised forecast. That move indicates a positive immediate response, but the article provides no broader market comparison or evidence that the rise persisted into regular trading.
Analyst inference
What to watch
- Watch whether Cash App and Square sustain gross-profit growth in later reports; these businesses contributed to the latest increase, but no future growth is guaranteed. Analyst inference
- Track bitcoin-related gross profit and Cash App transaction fees: the article says lower fees on some transactions were the main reason bitcoin profit fell 50%. Confirmed
- Compare subsequent results with the $12.63 billion 2026 gross-profit forecast, which Block raised by 22% year over year; the article gives no supporting assumptions. Confirmed
Affected assets
- BTC — Bitcoin