PayPal, Robinhood and Coinbase will report second-quarter results over four days next week, creating a concentrated test of whether stablecoins, prediction markets and crypto services have become material earnings drivers. PayPal is scheduled to report on July 28, followed by Robinhood on July 29 and Coinbase after the market closes on July 30. Investors will be watching whether PayPal can turn PYUSD and crypto payments into measurable transaction growth, whether Robinhood's prediction markets are becoming a larger economic engine than crypto trading, and whether Coinbase can protect the roughly $1.35 billion stablecoin revenue stream now exposed to the stablecoin-rewards fight in Washington. The reporting sequence covers three stages of the digital-asset economy, with each company representing different exposure models to crypto-related revenue.
PayPal Reports July 28 Amid Takeover Proposal
PayPal enters earnings in the shadow of a reported $53 billion takeover proposal from Stripe and Advent International. Reuters reported that PayPal's board considered the $60.50-per-share offer inadequate, although the company had not formally announced a completed rejection when the report was published. PayPal has expanded support for crypto-funded payments and has positioned PYUSD as settlement infrastructure rather than only a token held by traders. PayPal has not historically broken out a separately disclosed PYUSD revenue figure. The relevant evidence will instead come from transaction growth, merchant adoption and management's commentary on stablecoin settlement and crypto payments.
Robinhood Event Contracts Reached 3.9 Billion in May
Robinhood reported that users traded 3.2 billion event contracts in April and 3.9 billion in May. May event-contract volume rose 22% from April, while Robinhood App crypto volume was $5.9 billion and remained 50% below the previous year's level. Robinhood said customers traded more than 12 billion event contracts during 2025. Robinhood will hold its earnings call at 5:00 p.m. ET on July 29. The company combines crypto trading with event contracts, equities, options and interest income.
Coinbase Reported $1.349 Billion Stablecoin Revenue for 2025
Coinbase reported $1.349 billion of stablecoin revenue for 2025, up 48% from $910 million a year earlier. Coinbase said the increase came from higher USDC balances on and off its platform, partly offset by lower interest rates. The figure is generated primarily through the company's arrangement with Circle and depends on income earned from the reserves backing USDC. Senator Cynthia Lummis released updated CLARITY Act draft text on July 22 as lawmakers sought an agreement before the legislative window narrowed. Updated legislation would restrict rewards paid merely for holding idle stablecoins while allowing certain activity-based incentives, with regulators expected to define the boundary.
Earnings Call Schedule Confirmed for July 28-30
PayPal is scheduled to report on July 28. Robinhood will report on July 29 and hold its earnings call at 5:00 p.m. ET. Coinbase plans to report after the market closes on July 30 and hold a question-and-answer session at 2:00 p.m. PT. BigBear.ai also reports on July 30, with its release expected at approximately 4:15 p.m. ET and its call at 4:30 p.m. ET.
FAQ
When do PayPal, Robinhood and Coinbase report second-quarter earnings?
PayPal is scheduled to report on July 28, Robinhood on July 29, and Coinbase after the market closes on July 30. Robinhood will hold its earnings call at 5:00 p.m. ET, while Coinbase plans a question-and-answer session at 2:00 p.m. PT.
How much stablecoin revenue did Coinbase report for 2025?
Coinbase reported $1.349 billion of stablecoin revenue for 2025, up 48% from $910 million a year earlier. Coinbase said the increase came from higher USDC balances on and off its platform, partly offset by lower interest rates.
