# Block Raises 2026 Gross-Profit Outlook After 22% Third-Quarter Gain

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/48341
Published: 2026-11-04T08:06:51.000Z
Updated: 2026-11-04T08:06:51.000Z
Section: Business

> Cash App gross profit rose 27% and Square’s increased 14%, while Bitcoin-related gross profit fell 50% to $52 million.

Block lifted its 2026 gross-profit forecast to $12.63 billion after third-quarter gross profit rose 22% year over year, even as profit from its Bitcoin (BTC) business fell by half.

The company reported $3.24 billion in gross profit for the quarter. Cash App generated $2.07 billion, up 27%, while Square contributed $1.16 billion, a 14% increase.

Bitcoin-related revenue was $1.8 billion, but gross profit for the business declined 50% to $52 million. Block attributed the drop mainly to lower fees on some Bitcoin trades in Cash App.

Adjusted operating profit reached $923 million, up 92% from a year earlier. Block’s revised full-year forecast calls for gross profit to rise 22% in 2026 to $12.63 billion.