Gross profit up 22% year-over-year, Block's Q3 reaches $3.24 billion

According to Block's Q3 shareholder letter filed with the U.S. SEC, Block's Q3 gross profit was $3.24 billion, up 22% year-over-year. Of that, Cash App gross profit was $2.07 billion, up 27% year-over-year; Square gross profit was $1.16 billion, up 14% year-over-year. Bitcoin-related revenue was $1.8 billion, with gross profit of $52 million, down 50% year-over-year; Block said the main reason was a reduction in some Cash App bitcoin transaction fees. Adjusted operating income was $923 million, up 92% year-over-year. Block raised its full-year 2026 gross profit guidance to $12.63 billion, up 22% year-over-year. Block's stock price rose about 8% in after-hours trading.