Block Raises 2026 Guidance as Bitcoin Ecosystem Gross Profit Falls 50%

Block raised its full-year 2026 outlook after third-quarter revenue and adjusted earnings topped analyst estimates, as overall gross profit increased even while its Bitcoin ecosystem gross profit fell by half. Revenue reached $6.72 billion, compared with the $6.62 billion analyst estimate. Adjusted earnings were $1.13 per share, above the $1.02 estimate. On a GAAP basis, Block recorded net income of $565.6 million, or 92 cents per share. Gross profit rose 22% from a year earlier to $3.24 billion. Cash App generated $2.07 billion, up 27%, and Square, Block’s merchant business, contributed $1.16 billion, an increase of 14%.