Block Beats Q3 With $3.2B Gross Profit, Raises 2026 Outlook

Jack Dorsey's Block just handed Wall Street a beat. The payments company posted $3.2 billion in gross profit for the third quarter, clearing analyst estimates, according to Cointelegraph.

That's not the only headline. Block also nudged its 2026 outlook higher, telling investors it expects more from the years ahead than it previously signaled.

But there's a catch buried in the same update. The company flagged a potential Department of Justice settlement that could land bigger than it had earlier anticipated — a legal overhang Dorsey's team is now putting on the table alongside the good numbers.

Block, formerly Square, has spent years stretching beyond card readers into bitcoin tools, the Cash App ecosystem and merchant lending. Dorsey has been one of the loudest crypto believers in corporate America, tying chunks of the company's balance sheet and product roadmap to bitcoin.

The mix of a stronger profit beat and a raised multiyear target gives bulls something to chew on. The enlarged DOJ exposure gives the other side of the room something to chew on too.

No dollar figure for the potential settlement was disclosed in the Cointelegraph report, and it's unclear what the DOJ matter centers on. Investors will be watching for more detail on the next earnings call.