Block sinks 10% after weak third quarter results miss Wall Street estimates
1. Block shares fell 10% after earnings missed Wall Street expectations. 2. Earnings per share were 54 cents, lower than the expected 67 cents. 3. Gross profit for Cash App grew 24%, indicating strength in that sector. 4. Block anticipates $10.2 billion in gross profit for 2025, growth outlook improved. 5. Shares have declined 24% year-to-date due to slowing profit growth.