Graph of Crypto Companies Beating Q2 Estimates.
Crypto-centered public companies record profit beating Q2 estimates

Crypto Earnings Reports

Over the past couple of weeks, a number of crypto-focused public companies have released their quarterly earnings report, showing a rise in revenue and profits. This was largely due to the increase in the crypto market prices and a decrease in bearish momentum, taking the crypto world out of the crypto winter.


The institutional giant MicroStrategy, which has a large Bitcoin (BTC) balance sheet of 152,800 Bitcoin, was profitable again in the second quarter due to the surge in Bitcoin prices. According to the earnings report released on Aug.1, MicroStrategy reported $22.2 million in net income, a huge improvement from the net loss of $1.1 billion in Q2 of 2022. The firm’s revenue stayed flat at $120.4 million.


Jack Dorsey-led Bitcoin payment company Block exceeded early estimates and posted a 34% year-on-year increase in its Bitcoin revenue. In an earnings report posted on Aug. 3, Block reported $2.4 billion in Bitcoin sales with a gross profit of $44 million, a 7% increase compared to the same period last year.

Block and Coinbase Quarterly Earnings Reports

Block reported a 25.6% increase in revenue in the past quarter, rising from $4.4 billion to $5.53 billion year-on-year.

Coinbase, the first American crypto exchange to go public, posted its quarterly earnings report on Aug. 3, showing net revenue of $663 million. This was a 10% decline compared to Q2 2022, but still beat estimates, thanks to its growing market dominance in the United States. The exchange also narrowed its losses, bringing them to under $100 million in the second quarter.

European digital asset manager Coinshares saw its revenue surge by 33% compared to the last year. The asset manager posted a 25% year-over-year decline in asset management fees. CoinShares’ profits for the quarter were 5.3 million pounds ($6.76 million), compared to the net loss of 0.6 million pounds ($0.77 million) in Q2 2022.

Crypto Exchange Market Performance

The performance of crypto exchanges such as IOTEX, IDEX, Hbar, GMT, Internet Computer, ICP, Gods, IMX, and Google Crypto have been quite impressive in the past quarter.

Robinhood: According to its quarterly earning report, the Fintech trading platform Robinhood became profitable for the first time since going public. The fintech firm reported a net income of $25 million, or earnings per share (EPS) of $0.03, compared to a net loss of $511 million, or EPS of -$0.57, in the first quarter of the year.

Despite a reported net income of $25 million, the fintech firm recorded a decline in revenue across crypto, such as Graph Crypto, IOTEX Crypto, IDEX Crypto, Hbar Crypto Today, GMT Crypto, Internet Computer Crypto, ICP Crypto Today, Gods Crypto, IMX Crypto, and Google Crypto, as well as equities and transaction-based revenue.

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