Block says gross profit in 2028 will approach $16 billion as company unveils 3-year outlook

Core Insights - Block expects gross profit to increase in the mid-teens annually for the next three years, reaching approximately $15.8 billion by 2028 [1][4] - The company unveiled a three-year financial outlook during its first investor day event since 2022, amidst skepticism from Wall Street, which has seen Block's stock decline over 30% in 2025 [2][3] - Block reported quarterly results that missed revenue estimates for the sixth consecutive time, prompting a shift away from its crowded point-of-sale business towards Cash App services and AI tools for sellers [3][4] Financial Projections - Adjusted operating income is projected to increase about 30% annually, exceeding $4.6 billion by 2028 [4] - Adjusted earnings per share are expected to grow in the low 30% range, reaching $5.50 in three years [4]