StocksMedium•3 November 2026•
1 min read
Block Raises Annual Profit Outlook and Reaches Preliminary DOJ Settlement
Key Facts
1Block raised its full-year gross profit outlook to $12.63 billion, driven by strength in its Cash App segment.
2The company reached a preliminary settlement with the U.S. Department of Justice regarding previous investigations.
3Cash App gross profit grew by 27%, offsetting a 50% slump in Bitcoin-related gross profit following a fee cut.
Block raised its full-year gross profit outlook to $12.63 billion. Reuters reported that the company also reached a preliminary settlement with the U.S. Department of Justice regarding previous investigations.
Cash App gross profit grew by 27%, which helped offset a 50% slump in Bitcoin-related gross profit following a fee cut. Shares of Block rose in after-hours trading on November 4, 2026, as the guidance raise and the resolution of regulatory uncertainty outweighed the impact of reduced transaction fees.