Block Reports 10% Transaction Growth, Local Spending Surges

Block reported a 10% rise in transactions during the Black Friday-Cyber Monday period, processing 124 million payments across Square, Cash App, and Afterpay. Local spending surged by 25% among Cash App Card holders, with gift card sales reaching $33.5 million. Buy Now, Pay Later activity grew, with basket sizes up 10% and per-customer spend rising 6%. Top-selling retail items were shirts, shoes, and pants.