Block and Circle Schedule Q3 Results as Riot Sets Earnings Call

Block and Circle Internet Group will release third-quarter results this week, while Riot Platforms has scheduled an earnings call, putting three different crypto businesses in focus for U.S. investors.

Block plans to release results after the market closes Tuesday, Nov. 3, followed by a call at 5 p.m. ET. Circle will report Wednesday, Nov. 4, and hold a webcast at 8 a.m. ET. Riot has scheduled its third-quarter earnings call for 8 a.m. ET on Nov. 4.

Block’s third-quarter outlook calls for $3.13 billion in gross profit, an 18% increase from a year earlier, and $1.02 in adjusted diluted earnings per share, up 89%. Those are company projections for the quarter, rather than results.

The company’s Bitcoin (BTC) Ecosystem generated $72 million in gross profit in the second quarter, down 31% from a year earlier. Block cited lower fees on some Cash App bitcoin transactions and bitcoin trading dynamics. The business accounted for 29% of Block’s total revenue but 2% of its gross profit that quarter, showing that its share of sales was much larger than its share of gross profit.

Circle’s earnings will update a different part of the crypto business. Income from reserves backing its stablecoins accounted for 95.2% of total revenue in the second quarter. That income depends on how many stablecoins are in circulation and the return earned on the reserves, which is linked to prevailing SOFR, a benchmark interest rate.

Riot’s second-quarter revenue totaled $174.2 million, including $113.7 million from bitcoin mining and $23.2 million from data centers. It produced 1,587 bitcoin during the quarter. Those figures provide a baseline for its upcoming earnings call, although the timing of its third-quarter results release has not been specified.

After the second quarter ended, Riot announced a 20-year lease for 191 megawatts of data-center capacity. The company expects about $9.1 billion in contract revenue over the lease’s initial term. It projects the first capacity delivery for December 2027 and full deployment by June 2028.