Block Shares Gain More Than 7% as Q3 Gross Profit Rises 22%

Block shares gained more than 7% in after-hours trading after the payments company posted third-quarter gross profit of $3.24 billion, up 22% from a year earlier, and raised its 2026 forecast. Block now expects about $12.6 billion in gross profit for 2026, up from roughly $12.5 billion. It forecast $3.32 billion in fourth-quarter gross profit and $14.52 billion for 2027, a projected 15% increase from the prior year. Block recorded about $230 million in losses on its Bitcoin (BTC) investment during the quarter.