Block says on track to outperform FY24 operating income outlook

The company states: “When we began the year, our initial guidance for 2024 in February called for gross profit of $8.65 billion and Adjusted Operating Income of $1.15 billion, translating into at least Rule of 29 on a Rule of 40 basis. As we contemplate our updated full-year guidance, we expect to outperform this initial guidance across gross profit and Adjusted Operating Income by $240 million and $410 million, respectively, and our updated guidance implies achieving Rule of 36 for full-year 2024. We are currently on track to deliver mid-teens gross profit growth with expanding margins, and we expect to reach our Rule of 40 target in 2026.”