Block, Circle and Riot Platforms report third-quarter earnings this week, covering a July-to-September stretch when crypto prices climbed.
The reports land days after Binance disclosed a $6.3 billion hack. All three stocks also closed lower on Friday.
Block Opens the Week After Its Last Beat Sent Shares Lower
Block goes first, and its crypto exposure runs through Cash App and the Bitcoin (BTC) on its balance sheet.
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The firm reports Tuesday, November 3, after the close, with a call at 5 p.m. ET.
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Analysts expect EPS of $1.02 on revenue of $6.63 billion, per Zacks.
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The stock closed Friday at $76.22, up 17.10% from its December 31 close.
Bitcoin makes up about 2% of Block's profit. In its Q2 letter, Block reported $72 million in Bitcoin Ecosystem gross profit, down 31% year over year. Total gross profit was $3.17 billion.
Block tied the decline to lower fees on some Cash App Bitcoin transactions and to Bitcoin trading dynamics.
Analysts expect Bitcoin revenue to keep shrinking. Zacks consensus puts it at $1.73 billion for Q3, down 12.2% from a year earlier.
Block also marks its BTC holdings to market each quarter, so price swings flow into net income. A higher BTC price on Septem...