TechFlow news, November 20 — According to The Block, Block (formerly Square) unveiled an optimistic three-year financial outlook at its first investor day since 2022, projecting that gross profit will grow at a mid-teens annual rate to approximately $15.8 billion by 2028 and adjusted earnings before interest and taxes will grow at around 30% annually, exceeding $4.6 billion.
The company also announced an expansion of its share repurchase program, adding $5 billion in authorization to supplement the remaining $1.1 billion from its prior plan. Following the announcement, Block's stock briefly halted trading and then surged about 8% to $62 after resuming.
Analysts expressed optimism about Block’s positioning as consumers shift toward fast, app-based lending tools, noting a 134% increase in Cash App borrowing usage, and stated the company is undervalued with potential upside exceeding 40%.
In addition, Block continues to deepen its crypto payments business, with Cash App recently adding support for stablecoin and Lightning Network-based Bitcoin payments, further integrating the app with the Square merchant network.
