Block beats Q3 earnings and revenue estimates, raises full-year guidance

Cash App drove a 22% jump in gross profit, while Bitcoin gross profit fell by half Block, the fintech company co-founded by Jack Dorsey, posted third-quarter results that beat Wall Street on both earnings and revenue. Then it raised its full-year adjusted earnings guidance above what analysts had pencilled in. Beating estimates is nice. Raising guidance tells you management expects that strength to last. In this report, Cash App did most of the heavy lifting. Its Bitcoin business went the other way. The numbers behind the beat Block (NYSE: XYZ) reported its results for the third quarter of 2026 on November 3. Adjusted diluted earnings per share came in at $1.13, ahead of analyst estimates of $1.02. On a GAAP basis, the company booked net income of $565.6 million, or $0.92 per share. Revenue reached $6.72 billion for the quarter. The consensus estimate was $6.62 billion, so Block cleared the bar by a comfortable margin. Gross profit is the metric Block emphasizes most, and it rose 22% year over year to $3.24 billion. The split between Block’s two main businesses was lopsided. Cash App generated $2.07 billion in gross profit, up 27% from a year earlier. Square, the merchant side, con...