Friday Nov 7 2025 03:30
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Shares in Jack Dorsey’s Block Inc. plummeted in after-hours trading on Thursday, declining almost 12% after the company’s third-quarter earnings failed to meet analyst expectations. The crypto-friendly fintech firm reported earnings per share of 54 cents for Q3, a 14% shortfall compared to the analyst consensus of 63 cents. Simultaneously, Q3 revenues reached $6.11 billion, representing a 2.3% year-over-year increase, but falling short of the anticipated $6.33 billion. Block Inc. (XYZ) shares tumbled 11.53% in after-hours trading to $70.93, following a 3.7% decrease to $62.75 by the end of the regular trading day. This adds to Block's ongoing stock price decline, with shares down 18.24% year-to-date in 2025. Despite the market's negative reaction, some metrics from Block's Q3 results painted a positive picture of the company's performance. The firm reported an 18% year-over-year increase in gross profit, reaching $2.66 billion. Block anticipates total profits of $10.24 billion for 2025, reflecting a projected 15% annual increase. Block’s peer-to-peer payments platform, Cash App, generated the majority of the profit, contributing $1.62 billion, a 24% year-over-year increase. Square, Block’s merchant payments business, generated $1.018 billion, up 9% from the previous year. In terms of overall profitability after accounting for operating expenses, Block reported an operating income of $409 million, a 26% year-over-year increase.
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