Coinbase’s total revenue fell to $2 billion in Q1 as trading volumes across the market slowed, with net income falling dramatically as crypto prices slumped.
Crypto exchange Coinbase’s total revenue fell 10% quarter-over-quarter to $2 billion in Q1, missing industry estimates by 4.1% as trading activity slowed across the market.
Coinbase’s net income was sliced by 95% from a near-company record $1.29 billion in Q4 to $66 million, in a large part due to Coinbase marking a $596 million paper loss on its crypto holdings.
The firm’s earnings per share of $1.94, however, managed to beat the Zacks Consensus Estimate of $1.85 for the quarter.
Read more
If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.
If you want to read more News articles, you can visit our General category.