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Block 8-K Report, Financial Results (Nov 6, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed November 6, 2025
Period End
November 6, 2025
Securities
XYZBSQKZ
In the record · 2016–202610-K1110-Q338-K137

XYZ filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 137 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Apr ’20Apr ’20
  3. Leadership change8-K · Apr ’22Apr ’22
  4. Material agreement8-K · May ’24May ’24

01—Abstract

Summary

Summary of the 8-K filed November 6, 2025. Cited figures are marked; the original filing is the authoritative source.

Block, Inc. (NYSE: XYZ) furnished a Shareholder Letter under Item 2.02 reporting third-quarter 2025 results for the period ended September 30, 2025.

Gross profit was $2.66 billiona, up 18% year over year, with Cash App gross profit of $1.62 billion (up 24%) and Square gross profit of $1.02 billion (up 9%). GAAP operating income was $409 million (15% of gross profit), Adjusted Operating Income was $480 million (18% margin), net income attributable to common stockholders was $462 million, and Adjusted EBITDA was $833 million. Diluted EPS was $0.74 and Adjusted Diluted EPS was $0.54.

Square GPV grew 12% year over year to $67.2 billionb, and Cash App monthly transacting actives reached 58 million in September. Management raised its 2025 outlook, now expecting gross profit of $10.243 billion (growth of over 15%) and Adjusted Operating Income of $2.056 billion (20% margin, growing nearly 28%). For the fourth quarter, the company expects gross profit of $2.755 billion (19% year-over-year growth) and Adjusted Operating Income of $560 million.

The letter highlights growth in Cash App Borrow, with originations up 134% year over year, post-purchase BNPL on Cash App Card surpassing $3 billionc in annualized originations in early October, and 8.3 million primary banking actives, up 18%. Block also repurchased 5.3 million Class A shares for $403 million in the quarter and issued $2.2 billion of senior notes. Investors should note that operating expenses rose to $2.25 billion, with transaction, loan, and consumer receivable losses up 89% year over year on a GAAP basis, reflecting growth in lending volumes.

Management attributes the Q3 gross profit beat and raised guidance to Square's accelerating GPV growth and Cash App's gross profit per transacting active growth of 25%d. The company will report fourth-quarter 2025 results on February 26, 2026.

02—Key points

Key Highlights

  1. Gross profit of $2.66 billion, up 18% year over year; Cash App gross profit up 24% to $1.62 billion and Square gross profit up 9% to $1.02 billion.
  2. GAAP operating income of $409 million versus $323 million a year earlier; Adjusted Operating Income of $480 million with an 18% margin of gross profit.
  3. Net income attributable to common stockholders of $462 million; diluted EPS of $0.74 and Adjusted Diluted EPS of $0.54.
  4. Full-year 2025 outlook raised to gross profit of $10.243 billion (over 15% growth) and Adjusted Operating Income of $2.056 billion (20% margin, growing nearly 28%).
  5. Q4 2025 outlook calls for gross profit of $2.755 billion (19% growth) and Adjusted Operating Income of $560 million.
  6. Square GPV grew 12% year over year to $67.2 billion; Cash App monthly transacting actives reached 58 million and primary banking actives 8.3 million (up 18%).
  7. Cash App Borrow originations grew 134% year over year, and losses from transactions, loans, and consumer receivables rose 89% on a GAAP basis; Block repurchased $403 million of stock in the quarter.

03—Questions

Frequently Asked Questions

  1. How did Block perform in the third quarter of 2025?

    Block reported gross profit of $2.66 billion, up 18% year over year, with GAAP operating income of $409 million and net income attributable to common stockholders of $462 million. Diluted EPS was $0.74, and Adjusted Operating Income was $480 million.

  2. What changed in Block's 2025 guidance?

    Management raised its full-year 2025 outlook to gross profit of $10.243 billion, growth of over 15%, and Adjusted Operating Income of $2.056 billion, a 20% margin. The company said the increase reflects third-quarter outperformance and higher expectations for the fourth quarter.

  3. Which segment drove growth?

    Cash App gross profit grew 24% year over year to $1.62 billion, driven by Cash App Borrow, BNPL, and Cash App Card. Square gross profit grew 9% to $1.02 billion, while Square GPV grew 12% year over year, its strongest growth since the second quarter of 2023.

  4. What are the main risks flagged in the letter?

    Operating expenses rose to $2.25 billion, and transaction, loan, and consumer receivable losses increased 89% year over year on a GAAP basis, driven mainly by growth in lending volumes, particularly Cash App Borrow. The letter's safe harbor section also cites macroeconomic conditions, competition, regulation, litigation, and tariffs as risk factors.

  5. What capital actions did Block take in the quarter?

    Block repurchased 5.3 million Class A common shares for $403 million and had $1.1 billion remaining under its repurchase authorization as of September 30, 2025. It also issued $2.2 billion of senior unsecured notes, including $1.2 billion due 2030 and $1.0 billion due 2033.

04—Continue

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