Block’s stock pops 9% on gross profit forecast, 3-year financial outlook
Block Inc. announced a three-year growth plan, aiming for mid-teens annual gross profit growth, potentially reaching $15.8 billion by 2028. Despite recent stock declines, shares rose 9% after the announcement. Block emphasizes Cash App services and AI tools, projecting significant increases in operating income and earnings per share, while expanding its share buyback program.