Block Reports Record Q3 2026 Earnings with Significant Growth in Gross Profit and Operating Income
Block (SQ) delivered a robust third quarter for 2026, characterized by record-breaking profitability and significant year-over-year growth across its core ecosystems. The company reported gross profit of $3.24 billion, up 22%, and adjusted diluted EPS of $1.13, which represents a 109% increase compared to the previous year. This performance was driven by strong contributions from both Cash App and Square, alongside massive growth in consumer lending volumes. Management raised its full-year 2026 guidance for gross profit, operating income, and EPS, signaling confidence in sustained momentum. Key drivers included a tripling of Afterpay origination volumes and substantial expansion in the 'Neighborhoods' segment. Despite a strategic reduction in Bitcoin transaction fees leading to lower Bitcoin ecosystem profits, the company maintains a strong liquidity position of $10.1 billion.
Tickers: $XYZ
Topics: cash app earnings report gross profit guidance operating income square