Jack Dorsey’s Block Presented Q3 Report with $5bn Share Buyback

• Block reported a $5bn buyback as part of its Q3 financial results report.
• It also forecasts 30% annual growth in operating profit and $15.8 billion in gross profit by 2028.
• Moreover, Block is aiming to exceed the Rule of 40 parameter in 2026.

Block Inc, the fintech company founded by Jack Dorsey, unveiled a new three-year strategy at Investor Day 2025, announcing a $5bn share buyback and plans to reach $15.8bn in gross profit by 2028.

Taking into account the previously unused $1.1bn, Block now has about $6.1bn available for share buybacks.

The company also forecasts adjusted operating profit to grow by around 30% annually to $4.6bn in 2028.

The new strategy signals a shift in focus from Square’s traditional business to consumer services, bitcoin infrastructure, and artificial intelligence (AI) tools.

For 2026, Block expects nearly $12 billion in gross profit (17%), $2.7 billion in adjusted operating profit, and $3.20 in earnings per share.

The company also said that it plans to exceed the Rule of 40 target in 2026 and maintain it until 2028.

More than 25% of gross profit (more than $4 billion) by 2028, according to its forecasts, will be provided by a new indicator of cash flow taking into account credit needs, calculated on the basis of Generally Accepted Accounting Principles (GAAP).

In addition, starting from November 10, 2025, zero fees for bitcoin payments will be applied to more than 4 million merchants in the US. The program will run for a year, covering all states except New York due to regulations.

Amrita Ahuja, Chief Operating Officer and Chief Financial Officer, emphasized the company’s priorities: scalability, efficiency, and long-term value. She expressed confidence that innovation and investment will deliver “compounding growth while expanding margins.”

Despite the mixed results for the third quarter, gross profit grew by 18.3%, driven mainly by Cash App (24.3%) and Square (9.2%).

Cash App has 58 million active users, and revenue per user grew by 25.3%.

The app recently integrated instant payments in the first cryptocurrency without the need to own it and added support for stablecoins with real-time conversion. Cash App CEO Miles Suter called stablecoins “Money 1.5” and bitcoin “Money 2.0.”

According to the report, Block is developing areas beyond payments:

• Bitkey — bitcoin wallets
• Proto — mining solutions
• Afterpay — BNPL service
• TIDAL — streaming
• Platforms for AI tools for business

Earlier, we wrote that since May 2024, Block has been applying a dollar value averaging strategy, allocating 10% of the gross profit from bitcoin transactions to its purchase. In November, the company announced plans to increase investments in mining.

In July 2025, Block entered the S&P 500 index, which increased investor interest and caused the shares to rise by almost 8.5%.