Block, Inc.

Strong Q3 results + raised full-year outlook (overall upside) - Block reported another beat vs guidance and raised 2026 expectations. - Gross profit: +$22% YoY to $3.24B - Adjusted operating income (AOI): +$92% YoY to $923M, 29% margin (record) - Adjusted EPS: +$109% YoY to $1.13 (record) - Square GPV growth: accelerated to +14% YoY (strongest since Q1’23); Q3 Cash App gross profit: +$27% YoY

2026 financial forecasts (raised) and strong Rules-based profitability targets - 2026 gross profit: $12.626B (+22% YoY) - 2026 AOI: $3.519B (~28% margin) - 2026 adjusted diluted EPS: $4.15 (+75% YoY) - Q4 2026 expectations: >15% YoY gross profit growth, ~30% AOI margin, +77% YoY adjusted diluted EPS growth - Rule-of-40/50 framing (surprise/upside): management says they now imply Rule of 50 for 2026 (vs earlier Rule of 40 target), driven by both growth and margin expansion.

Cash App momentum: MAUs up; expect continued actives growth into 2027 - Monthly transacting actives: 60M in September (+4% YoY) - Key drivers: Neighborhoods plus teens/families contributions; also improving engagement signals (e.g., inflows per active). - Guidance: expects at least low single-digit MAU growth in 2027, with continued contribution from Neighborhoods, Cash App families, product innovation (e.g., Tags), and go-to-market investment. - PBA (primary banking active) focus: inflows from PBAs +23% YoY, PBA inflows per active +8% YoY; company expects sequential PBA growth late Q4.