Block raises annual profit outlook on spending strength
The Jack Dorsey led payments firm increased its full year gross profit forecast following a 27 percent surge in quarterly earnings. Growth was driven by strong performance in the Cash App and Square divisions as shares jumped 7 percent in extended trading.
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Block Inc raised its 2026 gross profit forecast to $12.33 billion following a 27% surge in quarterly profit. The new outlook exceeds the previous $12.20 billion target as Cash App and Square businesses maintain double-digit growth. Investors sent shares up 7% in late evening trading.
