Block Stock Drops After Q3 Earnings Miss Estimates: Details

Core Insights - Block, Inc. reported third-quarter earnings that missed analyst expectations, leading to a decline in stock price [1][2] Financial Performance - Quarterly earnings were reported at 54 cents per share, below the consensus estimate of 67 cents [2] - Quarterly revenue was $6.11 billion, missing the Street estimate of $6.312 billion [2] Operational Highlights - Square GPV (Gross Payment Volume) growth accelerated to 12%, with U.S. GPV growing 8.9% and International GPV growing 26% [4][6] - Cash App's gross profit growth accelerated to 24%, with gross profit per monthly transacting active growing 25% year-over-year to $94.16 [4][6] - Monthly transacting actives for Cash App reached 58 million, with primary banking actives growing 18% year-over-year to 8.3 million [6] Future Outlook - The company raised its fiscal 2025 gross profit outlook to $10.243 billion, reflecting over 15% year-over-year growth [5]