Block said Wednesday that it expects gross profit to increase in the mid-teens annually for the next three years, reaching about $15.8 billion in 2028.
At the payment company's first investor day event since 2022, Block unveiled a three-year financial outlook. The announcements land as Wall Street has turned skeptical on Block's prospects, pushing the stock down by more than 30% in 2025, while major indexes have notched solid gains.
Block shares were initially halted around the time of the announcement and then jumped 9% when trading resumed.
The fresh guidance also comes two weeks after Block reported quarterly results, missing revenue estimates for a sixth straight time. Block has been diversifying away from its point-of-sale business, which has become increasingly crowded, launching more services tied to Cash App and offering artificial intelligence tools to sellers.
Block said in its new outlook that adjusted operating income is projected to increase about 30% annually, topping $4.6 billion by 2028. Adjusted earnings per share will grow in the low 30% range, reaching $5.50 in three years.
Chief Financial Officer Amrita Ahuja told CNBC ahead of the release that the company is entering a new phase of execution.