PayPal, Robinhood, Coinbase Report Q2 Earnings July 28-30; Coinbase USDC Revenue Hit $1.35B in 2025

PayPal, Robinhood and Coinbase will report second-quarter earnings over four consecutive days next week—July 28, 29 and 30 respectively—in a concentrated test of whether stablecoins, prediction markets and crypto services have become material earnings drivers. PayPal's call will focus on whether PYUSD stablecoin and crypto payments drive transaction growth. Robinhood will reveal whether prediction markets are becoming a significant revenue source beyond crypto trading. Coinbase will address stablecoin economics amid pending regulatory discussions.

Coinbase disclosed 2025 stablecoin revenue of $1.349 billion, up 48% from $910 million in 2024, driven primarily by USDC balances and reserve income. The company now faces pressure from Washington's CLARITY Act negotiations, which could restrict how platforms attract stablecoin deposits through customer rewards. Investors will watch whether all three companies can demonstrate revenue diversification beyond traditional crypto trading volatility.