Three major crypto-focused companies report third-quarter earnings this week, with divergent analyst expectations and a history of stock movements that have not consistently aligned with results.
Robinhood Reports First Quarter With Chain Revenue
Robinhood reports Tuesday, October 27, after market close. Analysts expect earnings per share of $0.56, down from $0.61 a year earlier, with revenue consensus at $1.41 billion, up 16% year-over-year.
The quarter marks the first full period for Robinhood Chain, the company's blockchain for tokenized assets, which launched July 1. ARK Invest estimated the network generated approximately $51 million in revenue during the quarter.
Robinhood's stock has fallen after five of its last six earnings reports despite beating estimates in five of those quarters. The stock declined 3.6% following its July report, when it posted earnings of $0.62 against a $0.44 estimate. Year-to-date, shares are down nearly 16%.
Coinbase Faces Third Consecutive Quarterly Loss
Coinbase reports Thursday, October 29, after market close. Analysts expect a loss of $0.18 per share, compared to a $1.44 profit a year earlier. Revenue consensus is $1.20 billion, down from $1.87 billion in the same quarter last year—a decline of approximately 36%.
A loss this quarter would mark the third consecutive quarter of losses for Coinbase in 2026. The company has also missed analyst profit estimates in its last three reports. In its July report, Coinbase lost $0.39 per share against a $0.14 profit estimate, causing shares to fall 10.6%. Despite these misses, the stock gained 16.5% after its February miss and 4.2% after its May miss.
Coinbase shares closed Friday at $164.45, down approximately 27% year-to-date.
MicroStrategy Reports With Bitcoin Gain Already Public
MicroStrategy reports the same evening as Coinbase and hosts a webinar at 5 p.m. Eastern Time. Analysts expect earnings per share of $21.50, compared to $8.42 a year earlier.
The company disclosed in an October 5 filing that it recognized a $20.91 billion gain on Bitcoin during the quarter. MicroStrategy held 847,666 BTC at quarter-end, purchased at an average price of approximately $75,437 per coin. The company marks its Bitcoin holdings to market each quarter, causing earnings to fluctuate with the cryptocurrency's price.
Two recent developments may be discussed on the earnings call. On October 19, MicroStrategy's board increased its preferred stock buyback authorization from $2 billion to $3 billion. In a separate development, MSCI approved rules on October 15 that could affect companies structured as investment vehicles, potentially impacting MicroStrategy's index inclusion.
MicroStrategy shares closed Friday at $146.01, down 3.9% year-to-date—the smallest decline among the three companies.
