Block Posts Weak Q3 Results Despite Raising Full-Year Guidance

Block Inc. delivered a disappointing third-quarter performance, missing analyst expectations on both earnings per share and revenue. Adjusted EPS of $0.54 fell 14% short of the $0.63 consensus, while revenue of $6.11 billion lagged behind the projected $6.33 billion. The weak results overshadowed robust operational growth in Block's Cash App and Square ecosystems, where gross profit surged 18% year-over-year to $2.66 billion.

Cash App generated $1.62 billion in gross profit, up 24%, while Square contributed $1.02 billion, a 9% increase. Square's Gross Payment Volume grew 12%, and Cash App reached 58 million monthly active users. "We gained profitable market share through product innovation and expanded distribution," said CEO Jack Dorsey.

Despite the quarterly miss, Block raised its 2025 full-year guidance, forecasting $10.24 billion in gross profit—a 15% year-over-year increase—and $2.06 billion in adjusted operating income at a 20% margin. Fourth-quarter gross profit is expected to jump 19% to $2.76 billion.