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

ChainCatcher news, according to beincrypto, Block announced a three-year strategic plan yesterday, targeting a gross profit of $15.8 billions by 2028, an annual adjusted operating income growth of 30%, and earnings per share reaching $5.50.

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

Core highlights include: launching Square Bitcoin services in October to provide zero-fee bitcoin payments for 4 million U.S. merchants; business expansion into AI tools, bitcoin infrastructure, and other areas. After the announcement, the stock price soared nearly 9%, reversing this year’s 30% decline.