Why Is Block Stock Going Up?
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Block (XYZ) stock rose 15.3% on Wednesday, November 4, 2026, alongside a 1.6% gain for the S&P 500. The advance followed Block’s November 3 release of third-quarter results that beat estimates for both earnings and revenue. What did the quarter show, and how did management change its outlook?
Block Beat Estimates And Raised Its Outlook
Block reported adjusted earnings per share of $1.13 against a $1.03 estimate. Revenue also beat, reaching $6.72 billion against a $6.59 billion estimate.
Management sets its outlook using gross profit, which is what Block keeps from revenue after the direct costs of its services. Gross profit grew 22% from a year earlier to $3.24 billion, management said on the November 3 call. Revenue grew more slowly, rising 9.9% from a year earlier. Cash App grew faster than Square, with Cash App’s gross profit rising 27% against 14% for Square, Block’s business for sellers.
Management raised its 2026 outlook for gross profit, adjusted operating income and adjusted earnings per share. The company now expects gross profit of $12.626 billion for the year, 22% more than in 2025. For 2027, management expects gross profit to grow at least 15%, and it said its outlook for adjusted operating income in both years is a year ahead of the schedule it set at its Investor Day.
Did Similar Companies Rise With Block?
Most did, but by much less. Four of the five companies on Block’s Trefis peer list rose on November 4. Shopify gained the most, at 7.3%, while Global Payments fell 1.9%. XLF, the fund tracking the financials sector, rose 3.5% the same day. Block moved the same way as its sector and most of its peers, but advanced about twice as far as the best of those peers.
Block Stock Closed At A One-Year High
Block’s $87.63 close on November 4 was its highest finish in the past 365 days, and well above its low of $49.09 on February 12, 2026. A rise this large is rare for the stock: only one session in the prior 365 days had a gain at least this large, a 16.8% jump on February 27, 2026.
Over the twelve months to November 4, a window that includes this session, the stock returned 20.7%, against 14.9% for the S&P 500.
Block reports its fourth-quarter 2026 results next. For that quarter alone, management expects gross profit growth of over 15% from a year earlier, and that is the measure to watch.
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