{"id":65694,"date":"2026-07-30T16:38:15","date_gmt":"2026-07-30T20:38:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/reddit-and-coinbase-post-divergent-q2-results-trump-targets-migrant-trucking-licenses\/65694\/"},"modified":"2026-07-30T16:38:15","modified_gmt":"2026-07-30T20:38:15","slug":"reddit-and-coinbase-post-divergent-q2-results-trump-targets-migrant-trucking-licenses","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/reddit-and-coinbase-post-divergent-q2-results-trump-targets-migrant-trucking-licenses\/65694\/","title":{"rendered":"Reddit and Coinbase Post Divergent Q2 Results; Trump Targets Migrant Trucking Licenses"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Reddit (<a href=\"\/stock\/RDDT\">RDDT<\/a>) shares surged after-hours<\/strong> following a massive <strong>61% year-over-year revenue jump to $805 million<\/strong>, significantly beating analyst estimates of <strong>$730.4 million<\/strong>.<\/li>\n<li><strong>Coinbase (<a href=\"\/stock\/COIN\">COIN<\/a>) missed Q2 revenue expectations<\/strong> with <strong>$1.22 billion<\/strong> reported against a <strong>$1.29 billion<\/strong> estimate, though it achieved a record <strong>10.3% trading volume market share<\/strong>.<\/li>\n<li><strong>President Trump announced a crackdown<\/strong> on state-issued commercial driver&#39;s licenses (CDLs) for undocumented immigrants, citing the removal of <strong>24,000 non-English speaking drivers<\/strong> to date.<\/li>\n<li><strong>Spot <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> (<a href=\"\/stock\/XAG\">XAG\/USD<\/a>) prices climbed nearly 3%<\/strong> to reach <strong>$59.32\/oz<\/strong>, marking a significant intraday gain amid shifting precious metals sentiment.<\/li>\n<li><strong>Netflix (<a href=\"\/stock\/NFLX\">NFLX<\/a>) director Anne Sweeney resigned<\/strong> from the board effective July 26, 2026, marking the departure of a high-profile media veteran from the streaming giant.<\/li>\n<\/ul>\n<h2>Reddit Crushes Estimates with Triple-Digit EPS Growth<\/h2>\n<p>Reddit (<a href=\"\/stock\/RDDT\">RDDT<\/a>) delivered a blockbuster second-quarter earnings report, posting a <strong>diluted EPS of $1.25<\/strong>, which dwarfed the <strong>$0.95<\/strong> expected by Wall Street. The social media platform&#39;s revenue reached <strong>$805 million<\/strong>, a <strong>61% increase<\/strong> from the previous year, driven by a <strong>64% surge in advertising revenue<\/strong>. User engagement also showed strong momentum, with <strong>Daily Active Uniques (DAUq)<\/strong> rising <strong>18% year-over-year<\/strong> to <strong>130.3 million<\/strong>.<\/p>\n<p>The company provided optimistic guidance for the third quarter, projecting revenue between <strong>$860 million and $870 million<\/strong>, well above the <strong>$829.1 million<\/strong> consensus. Reddit also expects <strong>Adjusted EBITDA<\/strong> to land between <strong>$385 million and $395 million<\/strong>. CEO Steve Huffman highlighted the company&#39;s &quot;commercial momentum,&quot; noting that Reddit has now maintained eight consecutive quarters of revenue growth exceeding 60%.<\/p>\n<h2>Coinbase Gains Market Share Despite Revenue Miss<\/h2>\n<p>Coinbase Global (<a href=\"\/stock\/COIN\">COIN<\/a>) reported second-quarter revenue of <strong>$1.22 billion<\/strong>, falling short of the <strong>$1.29 billion<\/strong> analyst target as trading volumes cooled across the broader crypto market. <strong>Transaction revenue<\/strong> came in at <strong>$599.2 million<\/strong>, missing the <strong>$635.1 million<\/strong> estimate, while <strong>Subscription and Services revenue<\/strong> also trailed expectations at <strong>$555.1 million<\/strong>. Despite the top-line miss, the exchange successfully grew its <strong>trading volume market share to 10.3%<\/strong>, up from 9.1% in the first quarter.<\/p>\n<p>Looking ahead to the third quarter, Coinbase expects <strong>adjusted expenses<\/strong> to range between <strong>$980 million and $1.08 billion<\/strong>. The company noted that <strong>Bitcoin ETF outflows<\/strong> seen in Q2 have stabilized in Q3. Management emphasized that the platform is continuing to diversify its revenue streams, with <strong>USDC held on the platform<\/strong> reaching an all-time high of <strong>$20 billion<\/strong>.<\/p>\n<h2>Trump Targets &quot;Unqualified&quot; Drivers in New Safety Initiative<\/h2>\n<p>In a White House address, President Trump slammed state programs that issue commercial driver&#39;s licenses to undocumented immigrants, labeling them a threat to highway safety. Trump claimed that American roadways have been &quot;terrorized by unqualified illegal aliens&quot; and blamed &quot;radical left maniacs&quot; at the state level for the practice. He announced the <strong>&quot;Freedom Haulers&quot; initiative<\/strong>, which aims to replace these drivers with military veterans through an expedited licensing process.<\/p>\n<p>According to the administration, federal authorities have already forced states to cancel more than <strong>28,000 commercial licenses<\/strong> issued to undocumented migrants. Trump cited concerns that many of these drivers do not speak English and cannot read basic road signs, leading to reckless driving. The President urged all 50 states to join the new program, which currently has 34 participating states.<\/p>\n<h2>Market Moves: Silver Surges and Netflix Board Change<\/h2>\n<p>In the commodities market, <strong>Spot Silver<\/strong> saw a sharp rally, rising nearly <strong>3% to $59.32 per ounce<\/strong>. The move comes as investors weigh industrial demand against a potential shift in Federal Reserve policy. The <strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a>\/Silver ratio<\/strong> remains a key point of focus for traders as silver continues to exhibit higher volatility than gold in the current economic environment.<\/p>\n<p>Separately, Netflix (<a href=\"\/stock\/NFLX\">NFLX<\/a>) disclosed in a regulatory filing that <strong>Anne Sweeney<\/strong>, a former Disney executive who joined the board in 2015, resigned effective <strong>July 26, 2026<\/strong>. The company stated the departure was not due to any disagreement with management. The resignation follows the recent departure of co-founder <strong>Reed Hastings<\/strong> from the board, signaling a continued evolution of the company&#39;s top-level governance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Reddit (RDDT) shares surged after-hours following a massive 61% year-over-year revenue jump to $805 million, significantly beating analyst 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