Block shares dropped 10% following weaker-than-expected third-quarter earnings for Square service. Revenue was $6.11 billion, missing the $6.31 billion estimate. Gross payment volume rose 12%, but gross profit growth slowed to 9%. Cash App’s gross profit grew 24% to $1.62 billion. Block raised full-year guidance to $10.2 billion in gross profit.
Read more at CNBC: Block stock sinks after third quarter results miss estimates
