PANews reported on November 20th that Block, founded by Jack Dorsey, released its three-year financial outlook at its investor day, projecting double-digit annual gross profit growth to $15.8 billion by 2028, and adjusted operating profit to increase by 30% annually, exceeding $4.6 billion. The company also announced an additional $5 billion in stock buyback authorization. Driven by this news, the stock price jumped approximately 8% to $62. Analysts are optimistic about Cash App's lending growth and Square's business improvement, believing the stock still has over 40% upside potential.PANews reported on November 20th that Block, founded by Jack Dorsey, released its three-year financial outlook at its investor day, projecting double-digit annual gross profit growth to $15.8 billion by 2028, and adjusted operating profit to increase by 30% annually, exceeding $4.6 billion. The company also announced an additional $5 billion in stock buyback authorization. Driven by this news, the stock price jumped approximately 8% to $62. Analysts are optimistic about Cash App's lending growth and Square's business improvement, believing the stock still has over 40% upside potential.
Block.com released its three-year growth outlook and added $5 billion to its stock buyback authorization, sending its stock price soaring 8%.
PANews reported on November 20th that Block, founded by Jack Dorsey, released its three-year financial outlook at its investor day, projecting double-digit annual gross profit growth to $15.8 billion by 2028, and adjusted operating profit to increase by 30% annually, exceeding $4.6 billion. The company also announced an additional $5 billion in stock buyback authorization. Driven by this news, the stock price jumped approximately 8% to $62. Analysts are optimistic about Cash App's lending growth and Square's business improvement, believing the stock still has over 40% upside potential.
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