Block Targets 19% Q4 Profit Growth

Paypal PYPL competitor Block XYZ Block (SQ) is closing out the year with some serious momentum. The company behind Cash App and Square delivered another strong quarter and raised its outlook, signaling confidence heading into 2026.

Gross profit jumped 18% from a year ago to $2.66 billion, driven largely by Cash App, which continues to be the engine of growth with 24% profit gains and a growing user base of 58 million monthly actives. CFO Amrita Ahuja said profits held up even as the company kept investing in new products, bringing in $480 million in adjusted operating income.

Block expects that momentum to continue projecting Q4 gross profit growth of over 19%, or about $2.75 billion, and lifting its full-year target to $10.24 billion.

CEO Jack Dorsey said the focus now is on expanding voices across the company as it scales new offerings like Buy Now, Pay Later, Bitcoin mining, and other financial tools designed to deepen its ecosystem.