Block Inc
XBER:SQ3
Block Inc
Block, Inc. engages in creating ecosystems for distinct customer audiences. The company is headquartered in Oakland, California and currently employs 12,985 full-time employees. The company went IPO on 2015-11-19. The firm operates through two segments: Square and Cash App. Square segment includes managed payment services, software solutions, hardware, and financial services offered to sellers, excluding those that involve Cash App. Square is a cohesive commerce ecosystem that helps sellers start, run, and grow their businesses, including enabling sellers to accept card payments, provide reporting and analytics, and facilitating next-day settlement. Cash App segment includes the financial tools available to individuals within the mobile Cash App, including peer-to-peer payments, bitcoin and stock investments. Cash App also includes Cash App Card, which is linked to customer stored balances that customers can use to pay for purchases or withdraw funds from an ATM. Cash App also includes the BNPL platform. Its bitcoin ecosystem includes TBD, which is an open developer platform.
Block, Inc. engages in creating ecosystems for distinct customer audiences. The company is headquartered in Oakland, California and currently employs 12,985 full-time employees. The company went IPO on 2015-11-19. The firm operates through two segments: Square and Cash App. Square segment includes managed payment services, software solutions, hardware, and financial services offered to sellers, excluding those that involve Cash App. Square is a cohesive commerce ecosystem that helps sellers start, run, and grow their businesses, including enabling sellers to accept card payments, provide reporting and analytics, and facilitating next-day settlement. Cash App segment includes the financial tools available to individuals within the mobile Cash App, including peer-to-peer payments, bitcoin and stock investments. Cash App also includes Cash App Card, which is linked to customer stored balances that customers can use to pay for purchases or withdraw funds from an ATM. Cash App also includes the BNPL platform. Its bitcoin ecosystem includes TBD, which is an open developer platform.
Gross Profit Beat: Block delivered third quarter gross profit of $2.66 billion, up 18% year-over-year and surpassing expectations, with Cash App being a key growth driver.
Cash App Momentum: Cash App gross profit grew 24% year-over-year, reaching 58 million monthly actives and showing accelerated engagement and retention.
Lending & Credit: Cash App Borrow originations surged 134% year-over-year, with loss rates below 3% and strong annualized net margins of 24%.
Square Growth: Square gross profit rose 9% year-over-year with notable strength from larger sellers (GPV up 20%) and international markets (GPV up 26%).
Guidance Raised: Full-year gross profit guidance increased to $10.243 billion and adjusted operating income to $2.056 billion; Q4 outlook calls for over 19% gross profit growth.
AI & Product Velocity: Block is accelerating its use of AI for sellers and internal operations, aiming for both cost reduction and growth.
Afterpay & BNPL: Afterpay GMV grew 18% (constant currency) with strong post-purchase BNPL adoption, and new partner signings.
Capital Returns: Block repurchased $1.5 billion of stock year-to-date and plans to continue shareholder returns.
