Block raises profit outlook and reaches DOJ settlement
Block raised its full-year profit outlook after strong performance in its Cash App unit boosted quarterly earnings. The fintech firm also reached a preliminary settlement with the DOJ over its anti-money laundering program.
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BLOCK INC raised its full-year gross profit outlook to $12.63B on Tuesday after strong Cash App performance drove quarterly earnings. The fintech firm also reached a preliminary $764M settlement with the United States Department of Justice over anti-money laundering compliance. Shares rose 7% in extended trading following the announcements.
