Block Third-Quarter Gross Profit Rises 22% to $3.24 Billion: Net Income of $566 Million as Full-Year Gross Profit Outlook Raised to $12.63 Billion
San Francisco — Block, Inc., the San Francisco, California-based payments company, on November 4 reported third-quarter 2026 results in its shareholder letter: total revenue rose 9.9% to $6.72 billion; gross profit rose 22% to $3.24 billion; net income was $566 million, versus $462 million a year earlier; diluted earnings per share were $0.92; adjusted earnings per share rose 109% to $1.13; and adjusted operating income jumped 92% to $923 million.
By segment, Cash App gross profit rose 27% to $2.07 billion and Square gross profit rose 14% to $1.16 billion. Gross profit from the bitcoin ecosystem fell by half to $52 million; Chief Executive Officer Jack Dorsey said in the letter that the decline followed the company's decision to cut fees on some Cash App bitcoin transactions.
Block raised its full-year 2026 outlook, now expecting gross profit of $12.626 billion, up 22%, and adjusted operating income of $3.519 billion. It expects fourth-quarter gross profit of $3.315 billion, up 15%, and gave an initial expectation of at least 15% gross profit growth in 2027. (Source: Block)
Source: Block
Published by GSM · USA (original Chinese edition)
Photo: 图：Block 位于旧金山 Market 街 1455 号的总部大楼。Coolcaesar 摄，CC BY-SA 4.0，经 Wikimedia Commons。 / Photo: Block's headquarters building at 1455 Market Street, San Francisco. By Coolcaesar, CC BY-SA 4.0, via Wikimedia Commons.
