Block shares fall as Q3 profit misses estimates

Block

07/11/2025 09:57

** Shares of payments firm Block XYZ.N fall 14.2% to $60.83 premarket

** Co reports Q3 adj. profit of 54 cents per share, missing analysts' estimates of 67 cents, according to data compiled by LSEG

** Slowing consumer spending in Q3 as businesses and households curbed discretionary purchases weighed on payment firms like Block

** Reports Q3 rev of $6.1 bln, also misses estimates of $6.3 bln

** At least five brokerages cut PT on stocks post results; median PT is $89 - LSEG data

** Piper Sandler's new PT of $55 the lowest on Wall Street

** Up to last close, stock down 16.5% YTD, underperforming the broader S&P 500 .SPX to which co was added earlier in the year

 (Reporting by Avinash P in Bengaluru)

 ((Avinash.P@thomsonreuters.com;))