Block announced an optimistic three-year financial forecast on Wednesday, projecting significant profit growth that sent its shares up 7% after a brief trading halt.
The guidance, unveiled at the payment company’s first investor day since 2022, aims to restore investor confidence. Wall Street has grown skeptical of Block’s prospects, with its stock declining more than 30% in 2025. The announcement also follows a recent earnings report where the company missed revenue estimates for the sixth consecutive time.
Block now expects its gross profit to increase in the mid-teens annually over the next three years, reaching approximately $15.8 billion in 2028. During the same period, adjusted operating income is projected to rise about 30% annually to over $4.6 billion, while adjusted earnings per share are forecast to grow in the low 30% range to $5.50.
For 2026, the company anticipates gross profit will rise 17% to $11.98 billion, with adjusted operating income and earnings per share both increasing by more than 30%.
Chief Financial Officer Amrita Ahuja told CNBC the company is entering a “new phase of execution” as it diversifies from its core point-of-sale business into services tied to its Cash App and artificial intelligence tools for sellers. Ahuja said Block has adopted a “rule of 40” framework, a key industry metric combining revenue growth and profit margin, which it expects to achieve this year.
“Since our last investor day in 2022, we’re nearly double the size from a gross profit perspective,” Ahuja said, noting that a reorganization around a shared technical infrastructure has allowed the company to “move faster, with more connected decisions.”
In a further move to boost shareholder value, Block expanded its share repurchase program by $5 billion. This adds to the $1.1 billion remaining from its previous authorization. CEO and co-founder Jack Dorsey, who has maintained a low public profile in recent years, was in attendance at the event.
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