Crypto Earnings Reports Loom for Three Key Firms

Third-quarter earnings are due this week from three crypto-linked firms. Robinhood is expected to post a profit, while Coinbase is forecast to report a loss. Strategy has already declared a $20.91 billion gain on its Bitcoin holdings.

Recent stock performance and financial results have diverged for these companies. Coinbase shares climbed following two of its three earnings misses this year. Robinhood shares declined in July even though its results topped forecasts.

Past Earnings Beats Have Not Boosted Robinhood Stock

Robinhood is first up on Tuesday, October 27, with its report due after market hours.

• ChartRow data points to an EPS consensus of $0.56, down from $0.61 a year prior.
• Hudson Labs pegs revenue at $1.41 billion, a 16% annual gain.
• The stock dropped 3.6% after the July report, although EPS of $0.62 exceeded the $0.44 forecast.

The quarter covers the debut of Robinhood Chain, the firm's blockchain for tokenized assets, which went live on July 1.

ARK Invest calculated that Robinhood Chain brought in roughly $51 million in revenue over the period, topping Ethereum's estimated $41 million.

Patterns from prior releases offer a context. Robinhood shares declined by 2.9% to 13.2% following each of the last six reports, despite five of them exceeding estimates.

Shares lost 5.25% on Thursday and 1.56% on Friday before the report. For 2026 so far, the stock has shed nearly 16%.

Forecast Points to Third Consecutive Quarterly Loss for Coinbase

Coinbase reports two days later, on Thursday, October 29, after the closing bell. A loss is forecast for the exchange.

• ChartRow shows a consensus estimate of a $0.18 per share loss, compared to a $1.44 profit a year earlier.
• MarketBeat reports revenue estimates of $1.20 billion, down from $1.87 billion a year earlier.
• The stock fell 10.6% after its July report, when it lost $0.39 per share versus an expected $0.14 profit.

The revenue projection implies a roughly 36% decline from Q3 2025.

Coinbase posted adjusted losses in the first two quarters of 2026. A third would make three in a row. The firm has also missed analysts' profit projections for three consecutive quarters. Second-quarter revenue came in at $1.22 billion, below the $1.29 billion estimate and down 18.5% from the prior year.

Those misses have not always hurt the stock. Shares rose 16.5% after the February miss and 4.2% after the May miss.

Friday's close at $164.45 leaves the stock down roughly 27% for 2026.

Strategy's Key Figure Already Public Before Report

Strategy reports on the same day as Coinbase and is holding a webinar at 5 p.m. ET. Its main headline figure has already been released.

• ChartRow's consensus, based on just three analysts, puts EPS at $21.50, rising from $8.42 a year earlier.
• The stock fell 4.6% after the July report, which featured a $24.45 per-share loss against a $52.04 estimate.

An October 5 filing disclosed an estimated $20.91 billion gain on its Bitcoin holdings for the quarter. Strategy held 847,666 BTC at the end of September, acquired at an average of roughly $75,437 per coin.

The company marks its Bitcoin to the market each quarter, linking earnings to the coin's price. With the major gain already known, the webinar may offer more insight than the EPS figure.

Two recent events could be discussed. On October 19, the board raised its preferred stock buyback limit from $2 billion to $3 billion.

Separately, MSCI approved rules on October 15 targeting firms that act more like investment vehicles than operating businesses. Strategy could be removed from some indices as a result.

The stock ended Friday at $146.01, a 3.9% loss in 2026. This is the smallest drop among the three firms.

Strategy's gain came from Bitcoin's price rise during the quarter. Over the same span, analysts see Coinbase's revenue slipping below its second-quarter level.

This divergence puts attention on how much each firm earned from the market move, rather than on the move itself.