This week, the stock market anticipated a positive atmosphere with numerous companies set to release their earnings reports. However, contrary movements can often surprise us, as seen with the unexpected results from Meta and the omission of NVIDIA chips in discussions involving China, leading to a slight downturn. So, how are the earnings reports from crypto companies shaping up?
Strategy
Strategy, the largest Bitcoin treasury company, recently published its earnings report for the last quarter. Initially a critic of cryptocurrencies, Michael Saylor pivoted in 2020 to align his company’s fate with Bitcoin, transforming into a Bitcoin advocate. With a holding of 640,808 BTC, Strategy is far ahead of its closest competitors and has no plans to sell, reiterating its intention to continue purchasing more Bitcoin whenever possible.
Saylor shared insights from the latest earnings report:
Strategy announces third-quarter results for 2025 and reaffirms its goals for 2025. Third-quarter results include $3.9 billion in operating income, $2.8 billion in net income, and a diluted earnings per share of $8.42.
The financial targets for 2025 consist of $34 billion in operating income and $20 billion in BTC $ earning.
Following the release of the earnings report, MSTR shares jumped from $253 to $267 and are now trading at $261. Despite incurring a loss due to the downturn in cryptocurrencies, MSTR managed to compensate in post-market trading.
Coinbase
The earnings report of the United States’ largest cryptocurrency exchange by volume, Coinbase, also proved positive. Reporting a net income of $433 million for the third quarter of 2025, Coinbase declared earnings per share of $1.5. This performance marks a significant improvement from last year’s revenue of $75.5 million and per-share earnings of $0.28 (third quarter of 2024).
The main drivers of growth include increased volatility and rising transaction volumes in cryptocurrencies. During the third quarter, the company accumulated an additional 2,722 BTC. Had Coinbase’s earnings report been unfavorable, it might have led to a downward trend, but it was positive, and due to the general market downturn, a significant surge was absent. Still, BTC approached $107,500, which is relatively promising.
Coinbase shares leaped from $328 to $341 following the earnings report, before returning to prior levels, and have since surpassed $337 again.