Block dips after guiding to ‘slight deceleration’ in Square GPV growth in Q4

Shares of Block (XYZ), the parent company of Square and Cash App, are trading lower after Owen Jennings, who is the Block Business Lead, spoke at UBS’s 2025 Global Technology and AI Conference. During the event, Jennings stated: “So I don’t think there’s that much new to share relative to Investor Day and Q3 earnings. I think on the Square side, we continue to expect GPV growth in the low double-digit range. So a slight deceleration relative to Q3, largely driven by some weather events in October. And then also we’re comping a pretty strong holiday spend season last year. So that’s kind of in the 10%-ish range there for Square. And then on the Cash App side, we’re excited about the strength that we’re seeing with Cash App Actives. We’re excited about the launch of Cash App Green. And so I think that overall guide of about 19% gross profit growth and 39% growth in adjusted operating income is still the right ballpark just in terms of how we’re seeing things shake out in the quarter.” In afternoon trading following the presentation, shares of Block are down $2.75, or 4% to $61.60.