Block reports quarterly profit on resilient spending

(Reuters) – Payments firm Block reported a third-quarter profit on Thursday as economic stability encouraged customers to ramp up their spending.

The company’s net income attributable to its common stockholders was $283.8 million, or 45 cents per share, in the three months ended Sept. 30, compared to a loss of $88.7 million, or 15 cents per share, a year earlier.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Maju Samuel)