# Dan Loeb's Third Point Takes $194 Million Stake in Block as Company Raises Guidance

- URL: https://stocks.freetheai.org/news/dan-loeb-s-third-point-takes-194-million-stake-in-block-as-company-raises-d22112
- Published: 2026-10-12T19:21:59Z
- Category: company_news; sentiment: bullish; impact: medium
- Symbols: [NYSE:XYZ](https://stocks.freetheai.org/symbols/NYSE-XYZ), [NASDAQ:FINX](https://stocks.freetheai.org/symbols/NASDAQ-FINX)
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Billionaire investor Dan Loeb's fund, Third Point, established a major new position in Block, Inc. (NYSE:XYZ) during the second quarter. The firm acquired approximately 2.56 million shares of the payments company, placing the total value of the investment at roughly $194 million at the close of June.

The institutional buy-in comes as financial performance at Block continues to exceed forecasts. In its second-quarter report, the fintech company posted adjusted earnings of $1.02 per share on $6.62 billion in revenue, handily topping market estimates of 87 cents per share and $6.49 billion. Growth across core payment platforms remained robust, with Cash App Commerce Enablement volume rising 17% year over year to $56.5 billion and Square Gross Payment Volume expanding 13%. The firm also retains 9,117 Bitcoin on its balance sheet, valued at $590 million.

Looking ahead, management lifted full-year 2026 adjusted earnings guidance to $4.02 per share, up from a previous target of $3.85 and above the consensus estimate of $3.89. Investors will be monitoring whether operational momentum in Cash App and international Square processing can sustain this trajectory, alongside rollout efforts for new seller tools such as integration with Google Ask Maps.

## Key points

- Third Point bought about 2.56 million shares of Block, Inc., a stake worth roughly $194 million as of June 30.
- Block delivered second-quarter earnings of $1.02 per share on $6.62 billion in revenue, beating Wall Street estimates.
- Cash App Commerce Enablement volume grew 17% year over year to $56.5 billion, while Square GPV rose 13%.
- The company raised its 2026 adjusted EPS guidance to $4.02 from $3.85, surpassing analyst forecasts.

## Questions and answers

### How many shares of Block did Third Point buy?

Dan Loeb's Third Point bought approximately 2.56 million shares of Block, Inc. during the second quarter, valuing the total stake at around $194 million as of June 30.

### What were Block's second-quarter earnings and revenue?

Block reported second-quarter earnings of $1.02 per share on revenue of $6.62 billion, topping consensus analyst expectations of 87 cents per share and $6.49 billion in revenue.

### What is Block's full-year earnings guidance for 2026?

Block raised its 2026 adjusted earnings per share guidance to $4.02, up from its prior estimate of $3.85 and above the analyst consensus of $3.89.