Three crypto companies release third-quarter earnings reports this week. Analysts expect a profit at Robinhood and a loss at Coinbase. Strategy has already disclosed a $20.91 billion gain on its Bitcoin (BTC).
Share moves and results have not lined up for these companies lately. Coinbase shares rose after two of its three profit misses this year, while Robinhood fell after beating estimates in July.
Robinhood’s Beats Have Not Lifted Its Stock
Robinhood opens the week on Tuesday, October 27, reporting after the market closes.
- Analysts expect earnings per share (EPS) of $0.56, against $0.61 a year earlier, according to ChartRow.
- Revenue consensus stands at $1.41 billion, up 16% from a year earlier, according to Hudson Labs.
- The stock fell 3.6% after its July report, even though EPS of $0.62 beat the $0.44 estimate.
This is also the first quarter for Robinhood Chain, the company’s blockchain for tokenized assets. The network launched on July 1.
ARK Invest estimated that Robinhood Chain generated more revenue than Ethereum over the quarter, at about $51 million against roughly $41 million.
The stock’s reaction to past reports offers some context ahead of Tuesday. Robinhood shares fell between 2.9% and 13.2% after each of its last six reports, even though five of them beat estimates.
Shares also fell 5.25% on Thursday and 1.56% on Friday heading into the report. Overall, in 2026, shares are down nearly 16%.
Coinbase Is Expected to Lose Money for a Third Straight Quarter
Two days later, Coinbase reports after the close on Thursday, October 29. Unlike Robinhood, it heads into the release with a loss forecast.
- Analysts expect a loss of $0.18 per share, against a $1.44 profit a year earlier, according to ChartRow.
- Revenue consensus is $1.20 billion, down from $1.87 billion a year earlier, according to MarketBeat.
- The stock fell 10.6% after its July report, when it lost $0.39 per share against a $0.14 profit estimate.
That revenue estimate implies a drop of about 36% from the third quarter of 2025.
Coinbase posted adjusted losses in the first two quarters of 2026, so a loss now would make three in a row. It has also fallen short of analysts’ profit estimates in each of its last three reports. Second-quarter revenue missed as well, falling 18.5% from a year earlier to $1.22 billion. Analysts had expected $1.29 billion.
Those misses did not always weigh on the stock. Coinbase shares gained 16.5% after its February miss and 4.2% after its May miss.
Shares closed at $164.45 on Friday, leaving the stock down about 27% in 2026.
Strategy Has Already Shown Its Biggest Number
Strategy reports the same evening as Coinbase and hosts a webinar at 5 p.m. Eastern Time (ET). Most of its headline result is already public.
- Analysts expect EPS of $21.50, against $8.42 a year earlier, according to ChartRow. Only three analysts contribute to that estimate.
- The stock fell 4.6% after its July report, which showed a loss of $24.45 per share against a $52.04 estimate.
In an October 5 filing, Strategy estimated a $20.91 billion gain on its Bitcoin for the quarter. It held 847,666 BTC at the end of September, bought at an average of about $75,437 per coin.
Strategy marks its Bitcoin to market each quarter, so its earnings rise and fall with the coin’s price. With the main gain already disclosed, the call may tell investors more than the EPS figure.
Two recent developments could come up. On October 19, Strategy’s board raised its preferred stock buyback authorization from $2 billion to $3 billion.
Separately, MSCI approved rules on October 15 targeting companies that behave more like investment vehicles than operating businesses. Under those rules, Strategy could lose index spots.
Shares closed at $146.01 on Friday, down 3.9% in 2026, the smallest decline of the three.
Strategy’s gain came from Bitcoin’s rise during the quarter. Over the same period, analysts expect Coinbase’s revenue to slip below its second-quarter level.
That gap puts the focus on how much each company earned from the move, not on the move itself.
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