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Coinbase shares are down about 5% after missing forecasts again
Coinbase reported revenue of $803 million, compared to $1.17 billion in the first quarter Total quarterly trading volume was $217 billion, down about 30% Crypto exchange Coinbase reported revenue of $803 million in the second quarter, well below analysts' estimates of $854.8 million. Shares were down about 5% in after-hours trading. Of Coinbase's second-quarter revenue, $655 million came from trading fees, a 35% decline from the first quarter. Of this, $39 million came from transactions with institutional investors,...
Coinbase shares are down about 5% after missing forecasts again
- Coinbase meldete einen Umsatz von 803 Millionen US-Dollar, verglichen mit 1,17 Milliarden US-Dollar im ersten Quartal
- Das gesamte vierteljährliche Handelsvolumen betrug 217 Milliarden US-Dollar, was einem Rückgang von etwa 30 % entspricht
Crypto exchange Coinbase reported second-quarter revenue of $803 million, well below analysts' estimates of $854.8 million.
Shares were down about 5% in after-hours trading.
Of Coinbase's second-quarter revenue, $655 million came from trading fees, a 35% decline from the first quarter. Of that, $39 million came from transactions with institutional investors, a decline of 17% over the same period.
Coinbase's monthly active users fell from 9.2 million to 9 million in the second quarter.
Total quarterly trading volume was $217 billion, down about 30%, which the exchange attributed to market conditions at its core Letter to shareholders released ahead of Tuesday's earnings call.
Subscription and services revenue was $147 million, down 3% and up 44% year-over-year.
“We highlight the 44% year-over-year growth because it illustrates that these revenues are less volatile compared to transaction revenues,” the exchange wrote.
The exchange said it has "paused some smaller and longer-term products and expects to sequence our international growth efforts" to focus on growing the Coinbase retail app, Coinbase Prime, staking features, developer products and its Web3 business.
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The post Coinbase Stock Down About 5% After Missing Projections Again is not financial advice.