LONG Block IncBlock Inc has broken above its long-term consolidation range of $54 to $84, surpassing the 0.236 Fibonacci retracement level on the monthly chart. A December close above these levels would establish support, targeting the 0.382 Fibonacci level at approximately $125, representing a 30% upside potential from current prices.
Block Inc maintains strong operational momentum despite Q3 2024 results falling short of market expectations. While the projected Q4 gross profit growth of 14% year-over-year missed consensus estimates of 16.2%, the company's core business segments demonstrate robust fundamentals and expanding market opportunities.
Revenue Segment Distribution Outlook 2025:
Square & Afterpay ecosystem: 45% of total revenue
Cash App platform: 35% of total revenue
Bitcoin Mining operations: 12% of total revenue
Buy Now, Pay Later (BNPL) Services: 8% of total revenue
Strategic Growth Catalysts:
Strategic Bitcoin investment: New commitment to allocate 10% of gross profits
Enhanced financial reporting: Implementation of FASB fair value accounting for Bitcoin holdings starting Q1 2025
Mining technology innovation: Development of proprietary Bitcoin Mining Chip in partnership with Core Scientific
Payment integration expansion: Successful Afterpay integration with Google Pay platform (launched November 2024)
Strong transaction metrics: Record-breaking 144 million transactions processed during Black Friday/Cyber Monday 2024"