# Robinhood and Coinbase Fall After Earnings Misses

*Author: Kazu Umemoto*
*Published: Oct 31, 2024*
*Source: https://www.bankless.com/fr/robinhood-and-coinbase-fall-after-earnings-misses*

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Investors don’t seem appear as confident in crypto stocks and token buyers are in Bitcoin. Robinhood fell 16% and Coinbase dropped around 13% in intraday trading Thursday after poor earnings releases from each. 

## What's the Scoop?
- **Coinbase:** Shares dropped around 8% after reporting revenue that missed forecasts by about 4%. However, its L2 network, Base, saw a 55% increase in transactions and a doubling of deployed smart contracts.
- **Robinhood:** The stock trading app is on an upward tear, but didn't outpace growth from last quarter as analysts had forecasted.
- **MicroStrategy:** MicroStrategy increased its Bitcoin holdings by 11%, achieving a 17.8% year-to-date return. However, the company saw a 10.3% drop in software revenue year-over-year.

## Bankless Take:
Despite disappointing earnings, remember that the crypto market's boring summer has only recently livened up. Bitcoin's recent surge above $70K and significant net inflows into Bitcoin ETFs may prompt more action for public crypto companies, but these companies will only see the fruits of this action next quarter.