Block Shares Slide After 3Q Results Miss Estimates
By Dean Seal
Shares of Block dropped after the company's third-quarter results fell short of Wall Street forecasts.
The stock was down 9.6% at $64.10 after hours. Shares were already down more than 16% year-to-date when the market closed.
The payments company behind Cash App and Square said revenue rose 2.3% in the third quarter to $6.11 billion. That missed analyst projections for $6.3 billion, according to FactSet.
Block posted a quarterly profit of $461.6 million, or 74 cents a share, compared with $283.8 million, or 45 cents a share, in the same quarter a year earlier.
Stripping out one-time items, adjusted earnings were 54 cents a share. Analysts surveyed by FactSet had been expecting 64 cents a share.
In its earnings report, Block highlighted that gross payment volumes on its Square app grew 12% during the quarter and that it gained profitable market share.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
November 06, 2025 17:19 ET (22:19 GMT)
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