Block's Australian shares jump 5.7% on strong Q3 earnings and raised guidance

Block's Australian shares rose 5.7% to A$115.87 on Wednesday, following strong third-quarter 2026 earnings that beat expectations, including adjusted earnings per share of $1.13 versus a consensus near $1.02–$1.04. Revenue of $6.72 billion exceeded estimates of roughly $6.58–$6.65 billion, while adjusted operating profit hit a record $923 million, up 92% year-over-year, with margins expanding to 29%. The company raised its full-year 2026 adjusted EPS guidance to $4.15, implying 75% growth, and lifted gross profit forecasts to $12.626 billion. Growth was broad-based, with Cash App gross profit up 27% and Square up 14%, alongside a preliminary $764 million settlement with the Department of Justice that removed legal overhang. Management cited a "Rule of 50" performance for 2026, though the ASX 200 fell about 0.6–0.75% on the day.