AdvertisementAdvertisementBusiness07 Nov 2025 05:16AM (Updated: 07 Nov 2025 05:34AM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST Block missed Wall Street estimates for third-quarter profit on Thursday amid persistent macroeconomic uncertainty and intensifying competition in the payments sector, sending its shares plunging more than 11 per cent after the bell.Concerns over shifting U.S. trade policies under President Donald Trump and stubborn inflation have prompted businesses and households to rein in discretionary purchases.Mounting pressure from peer-to-peer payments apps have also weighed on the growth for Block's Cash App.The Jack Dorsey-led payments company posted an adjusted net income of 54 cents per share during the three months ended September 30, compared with analysts' average estimate of 67 cents per share, according to data compiled by LSEG.It expects gross profit of $10.24 billion for 2025, compared with $10.17 billion forecast earlier.Block shares have lost nearly 17 per cent of their value so far in 2025, compared with 14.5 per cent growth in the benchmark S&P 500 index. The company was added to the index earlier in the year.Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST