Coinbase exceeds Q1 expectations with revenue growth and cost cuts.
Coinbase reported Q1 revenue of $773 million, exceeding analyst estimates of $655 million, and up from Q4 revenue of $629 million. The company reported an adjusted loss of $0.34 per share, compared to an analyst estimate for a loss of $1.45 per share. Trading volume came in at $145 billion versus analyst estimates of $147.7 million for the quarter. Shares of Coinbase were up about 8% to $53 in after-hours trading Thursday. Coinbase recently unveiled its derivatives exchange in Bermuda, which is part of the company’s expansion outside the U.S.