Coinbase slides on crypto downturn; losses deepen in Q2
TL;DR
Coinbase Global posted a wider-than-expected Q2 net loss of $359 million as crypto trading momentum faded, with revenue down 17% to $1.15 billion and trading revenue down 22% to $600 million; nontrading revenue also declined, though Coinbase One memberships rose to a record, underscoring diversification efforts. Analysts cut price targets amid a sluggish crypto market and weaker earnings, as the company pursues new products and regulatory clarity.
Topics:businesscompany-earnings#coinbase#company-earnings#crypto-market#earnings#revenue-decline#trading-revenue
- Coinbase stock sinks as weak crypto market leads to another quarter of loss Yahoo Finance
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- Coinbase shares take hit on quarterly loss, analysts back diversification strategy Reuters
- Coinbase Q2 Earnings: Everything Exchange Drives 3rd Consecutive Quarter of Record Crypto Trading Volume Market Share, Revenue Diversification, and Resilience Coinbase - Investor Relations
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