Payments platform Block's Q3 profit beats estimates
XYZ•Block reported Q3 adjusted EPS of $1.13, beating the $1.03 analyst estimate, and adjusted EBITDA of $1.2 billion, slightly above the $1.19 billion estimate. The company expects to generate its first machine intelligence revenue in Q4 2026.
1. Earnings beat estimates
Block's Q3 adjusted EPS was $1.13, compared with the $1.03 analyst consensus. Adjusted EBITDA was $1.2 billion, slightly above the $1.19 billion estimate, while reported EPS was $0.92.
2. Business drivers and outlook
The company highlighted year-over-year growth in gross profit and operating income. It said stronger Square gross payment volume growth was driven by distribution expansion and increased product adoption, and that Cash App had 60 million monthly transacting actives. Block expects to generate its first machine intelligence revenue in Q4 2026.
