Companies /Technology

Block, Inc

NYSE: XYZ Software - Infrastructure
$83.57
▼ $1.28 (−1.51%) today
Markets closed · 12:52am ET

Q3 2025 Earnings

Reported Nov 6, 2025, 4:29pm ET · SEC source
$0.54
Miss −18.18%
EPS · est. $0.66
$6.1B
Miss −3.12%
Revenue · est. $6.3B
−5.8%
Trailing market
XYZ vs S&P since report
3 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+7%+14%Nov 6Nov 7report 4:29pm ETearnings+0.2%+5.9%
0+7%+14%Nov 6Nov 7earnings+0.2%+5.9%
XYZ +5.9%S&P 500 +0.2%
0+7%+14%Nov 6Nov 7report 4:29pm ETearnings−0.0%+5.9%
0+7%+14%Nov 6Nov 7earnings−0.0%+5.9%
XYZ +5.9%NASDAQ −0.0%
−7%0+7%+14%Nov 5Nov 14report 4:29pm ETearnings+0.1%−5.8%
−7%0+7%+14%Nov 5Nov 14earnings+0.1%−5.8%
XYZ −5.8%S&P 500 +0.1%
−7%0+7%+14%Nov 5Nov 14report 4:29pm ETearnings−0.5%−5.8%
−7%0+7%+14%Nov 5Nov 14earnings−0.5%−5.8%
XYZ −5.8%NASDAQ −0.5%
−7.73%
Day of report
+2.06%
Next session
−7.59%
One week
−3.30%
30 days

S&P 500 over the same 30 days: +2.47%.

Did XYZ Beat Earnings? Q3 2025 Results

Block fell short of Wall Street expectations in Q3 2025, posting adjusted diluted EPS of $0.54 against a consensus estimate of $0.66, a miss of 18.18%, while revenue of $6.11 billion trailed the $6.31 billion estimate by 3.12% and grew just 2.3% year over year. The headline numbers, however, obscured a more nuanced picture beneath the surface: the shortfall in adjusted EPS reflected Block's revised methodology now incorporating share-based compensation, a change that weighed on the reported figure even as gross profit surged 18% year over year to $2.66 billion. Cash App was the standout engine, with gross profit accelerating 24% year over year and monthly transacting actives reaching 58 million in September, while Square GPV posted its strongest growth since Q2 2023 at 12% year over year. Institutional interest in the stock has continued to build, with new positions being initiated by major financial firms. Looking ahead, Block raised its full-year 2025 gross profit outlook to $10.24 billion, reflecting over 15% growth, with Q4 guidance pointing to 19% gross profit expansion.

Key Takeaways
  • Cash App gross profit growth accelerated to 24% YoY driven by Cash App Borrow, BNPL, and Cash App Card
  • Square GPV growth accelerated to 12% YoY, strongest since Q2 2023
  • Food and beverage GPV growth accelerated to 17% from 10% a year ago
  • Cash App Borrow originations grew 134% YoY with 24% annualized net margins
  • Post-purchase BNPL on Cash App Card crossed $3 billion in annualized originations
  • Gross profit per transacting active reached $94, up 25% YoY
  • Inflows per transacting active growth accelerated to 10% YoY
  • Primary banking actives reached 8.3 million, up 18% YoY

Forward Guidance & Outlook

Block raised its full-year 2025 guidance. The company now expects gross profit of $10.243 billion, reflecting over 15% YoY growth. Full-year Adjusted Operating Income is expected to be $2.056 billion, growing nearly 28% YoY, at a 20% margin. For Q4 2025, Block expects gross profit of $2.755 billion (19% YoY growth) and Adjusted Operating Income of $560 million (20% margin). The company expects to continue accelerating gross profit growth in Q4, exiting 2025 with over 19% YoY growth, and delivering over 39% Adjusted Operating Income growth. Sales-led NVA for Square is expected to grow over 40% for the full year. Self-onboard growth is expected to more than double in Q4 vs. Q1.

XYZ YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$2.0B$4.0B$6.0B$6.0B$6.1BRevenue$2.2B$2.7BGross Profit$323.0M$409.4MOperating Income$283.7M$461.5MNet Income
$0$2.0B$4.0B$6.0BRevenueGross ProfitOperating IncomeNet Income

XYZ Revenue by Segment

Cash App$3.8B−3.0%
Commerce Enablement
Square$2.2B+12.0%
Bitcoin Ecosystem
Financial Solutions

Figures from SEC filings and company reports. Not investment advice.