{
  "id": 18046378,
  "title": "Block raises full-year profit outlook as Cash App drives Q3 growth",
  "url": "https://urgent.news/2026/11/04/block-raises-full-year-profit-outlook-as-cash-app-drives-q3-growth",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-04T00:13:46.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/block-raises-full-year-profit-outlook-cash-app-drives-q3-growth"
  },
  "original_language": "en",
  "account": "Block, the company led by CEO Jack Dorsey, has raised its full-year gross profit outlook for 2026, anticipating a 22% increase to US$12.63 billion. This optimistic projection follows a strong third-quarter earnings report, boosted by the growth of its Cash App unit and steady consumer spending. Despite the uncertain economic backdrop, the US economy expanded at its fastest pace in a year during the third quarter, driven by higher consumer spending and business investments in AI. Cash App's gross profit surged 27% in the quarter, while Square's merchant business saw a 14% increase. Cash App's active monthly transacting users reached 60 million by September, partially attributed to the success of its banking and lending products. However, these new offerings have also led to a 65.6% rise in Block's credit losses, totaling US$601.7 million in the third quarter. Cash App Card usage continues to rise, along with repayment rates on Borrow, signaling strong financial management by consumers. CFO Amrita Ahuja highlighted these positive indicators during a Reuters interview. Block now expects to generate AI-driven revenue for the first time in the fourth quarter. CFO Amrita Ahuja also revealed forecasts for 2027, with projected gross profit reaching US$14.52 billion, marking a 15% growth. Adjusted operating income for the three months ended September 30th rose to US$923 million, or US$1.13 per share, up from US$480 million, or 54 cents per share, in the same period last year.",
  "summary": "It forecasts gross profit of US$3.32 billion in Q4",
  "key_points": [],
  "editors_take": null,
  "illustration": "https://urgent.news/ill/18046378.png",
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "Block raises full-year profit outlook as Cash App drives Q3 growth",
        "url": "https://urgent.news/2026/11/03/block-raises-full-year-profit-outlook-as-cash-app-drives-q3-growth",
        "published": "2026-11-03T21:09:41.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}