Block Inc, the fintech company founded by Jack Dorsey, has presented an updated three-year financial strategy and announced a significant $5 billion stock buyback as part of its preparations for 2028.
This is reported by Business • Media
Stock Buyback and Financial Projections for Block
With the previously unused $1.1 billion, the company has the opportunity to allocate over $6.1 billion for the buyback. Block anticipates that by 2028, its gross profit will reach $15.8 billion, and adjusted operating income will grow by 30% annually to $4.6 billion. In 2026, Block forecasts a gross profit of nearly $12 billion (+17%), adjusted operating income of $2.7 billion, and earnings per share of $3.20.
The company also plans to exceed the Rule of 40 metric by 2026 and maintain this level through 2028. According to Block’s estimates, over 25% of gross profit, or more than $4 billion, will come from a new cash flow metric considering lending needs in accordance with GAAP by 2028.
Strategic Focus and Innovations
Block is shifting its focus from the traditional Square business to the development of consumer services, Bitcoin infrastructure, and AI-based tools. Starting November 10, 2025, the company will implement zero fees on Bitcoin payments for over 4 million merchants in the U.S. (excluding New York due to local regulations). This program will last for a year and cover nearly the entire country.
Block’s Chief Operating and Financial Officer Amrita Ahuja emphasized that the company is focused on scaling, efficiency, and long-term value. She is confident that innovations and investments will bring “comprehensive growth and margin expansion by 2028.”
Despite mixed results in Q3, Block recorded an 18.3% increase in gross profit, driven by the Cash App (+24.3%) and Square (+9.2%). Cash App has 58 million active users, and revenue per user increased by 25.3%.
“We have doubled the gross profit per active Cash App user and nearly doubled it for Square sellers since 2020,” the management stated.
Recently, Cash App integrated instant Bitcoin payments without the need for prior purchase, and added support for stablecoins with real-time conversion capabilities. Cash App’s head, Miles Suter, described stablecoins as “money 1.5” and Bitcoin as “money 2.0.”
Block is actively developing new areas beyond payment services. These include:
- Bitkey — Bitcoin wallets;
- Proto — mining solutions;
- Afterpay — buy now, pay later (BNPL) service;
- TIDAL — streaming platform;
- AI-based business tool platforms.
Starting May 2024, Block will implement a dollar-cost averaging strategy, investing 10% of gross profit from Bitcoin operations into its purchase. In November, the company also announced plans to expand investments in mining. In July 2025, Block was added to the S&P 500 index, resulting in an almost 8.5% increase in stock prices and heightened investor interest.