Block Inc. shares rise 6% after-hours as it raises full-year profit forecast
AI summary
Block Inc. raised its full-year gross profit forecast to $12.63 billion, implying 22% year-on-year growth, and shares climbed 6% in after-hours trading. Block is a major bitcoin holder and its Cash App unit drives retail crypto access, so stronger profit guidance signals resilient consumer engagement with its bitcoin products. Traders read the beat as a positive read-through for crypto-adjacent fintech demand.
