00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Block raised its full-year gross profit outlook as Cash App growth lifted quarterly earnings,
00:08Reuters reports. Shares rose 7% in extended trading. Adjusted operating income climbed
00:14to $923 million from $480 million a year earlier. Cash App gross profit surged 27%,
00:22while Squares rose 14%. Block now expects 2026 gross profit of $12.63 billion,
00:31up from $12.51 billion. Transaction, loan, and consumer receivable losses rose nearly 65.6%
00:40to $601.7 million. Separately, Block reached a preliminary agreement with the Justice Department
00:47over its anti-money laundering program. The expected net payment is roughly $764 million.
00:54Final terms and court approval remain pending. For all things money, visit Benzinga.com.
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