Block shares jump 8% as cash app fuels higher profit forecast

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Block Inc., led by Jack Dorsey, lifted its full-year gross profit outlook after delivering a stronger-than-expected second quarter. The jump was powered by Cash App’s lending growth and steady payment volumes across its platforms. The company had previously forecast $9.96 billion in gross profit for 2025. News of the appointment caused Block shares to rise 8% in after-market trade in New York on Thursday. Cash App, Block’s peer-to-peer payment and banking platform, pulled in $1.50 billion gross ...