Block announced a $5 billion buyback plan, aiming for a 30% annual revenue growth over three years

According to Beincrypto, Block announced a three-year strategic plan yesterday, aiming for a gross profit of $15.8 billion by 2028, with an adjusted annual revenue growth of 30% and earnings per share reaching $5.50.

The company also launched a $5 billion stock buyback plan, adding to the remaining $1.1 billion from previous plans, bringing the total to $6.1 billion. Block expects to achieve the 40% rule benchmark (revenue growth rate + profit margin > 40%) by 2026 and maintain it until 2028. Cash App remains the growth engine, with 58 million monthly active users and a 25.3% increase in profit per user.

Key highlights include: launching Square Bitcoin services in October, providing zero-fee Bitcoin payments for 4 million U.S. merchants; expanding into AI tools, Bitcoin infrastructure, and other areas. Following the announcement, the stock price surged nearly 9%, reversing a 30% decline this year.