Quick Take

• Block expanded its capital-return plans with a new $5 billion buyback authorization and detailed long-range earnings targets through 2028.
• Analysts say growing adoption of Cash App credit features and early improvements at Square could help support the company’s multi-year forecast.

Shares of the Jack Dorsey-led Block surged on Wednesday after the company laid out a three-year financial outlook that calls for faster growth and substantially higher profitability.

At its first investor day since 2022, Block said it expects gross profit to grow at a mid-teens annual rate through 2028, reaching roughly $15.8 billion, according to CNBC.

The stock was halted shortly before the guidance was released, then jumped roughly 8% to $62 once trading resumed, according to The Block's price page.

...read more at theblock.co