{"id":9114,"date":"2023-11-03T14:04:38","date_gmt":"2023-11-03T14:04:38","guid":{"rendered":"https:\/\/infundpros.com\/investment\/coinbase-sees-trading-volume-continue-to-fall-but-revenue-beats-expectations\/"},"modified":"2023-11-03T14:04:39","modified_gmt":"2023-11-03T14:04:39","slug":"coinbase-sees-trading-volume-continue-to-fall-but-revenue-beats-expectations","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=9114","title":{"rendered":"Coinbase sees trading volume continue to fall, but revenue beats expectations"},"content":{"rendered":"
\n

Coinbase Global Inc. saw revenue rise by more than what was expected in its latest quarter, but trading volumes continued to decline.<\/p>\n

The company logged a third-quarter net loss of $2 million, or 1 cent a share, compared with a loss of $545 million, or $2.43 a share, in the year-prior quarter. Analysts tracked by FactSet were modeling a 55-cent loss per share. <\/p>\n

\n

Coinbase
\n COIN,
\n +0.77%<\/bg-quote>
\n posted $181 million in adjusted earnings before interest, taxes, depreciation and amortization, whereas it notched a $116 million loss on the metric a year prior. The FactSet consensus was for $119 million in adjusted Ebitda.<\/p>\n

Revenue rose to $674 million from $590 million, whereas analysts had been modeling $651 million. The company saw $275 million in consumer transaction revenue, down 11% sequentially, and $14 million in institutional transaction revenue, down 18%. Coinbase also logged $334 million in subscription and services revenue, about flat sequentially.<\/p>\n

Subscription and services revenue includes areas like custody and blockchain rewards.<\/p>\n

Shares fell about 5% in aftermarket trading.<\/p>\n

Read:<\/strong> What the correlation between bitcoin and tech stocks says about the outlook for crypto prices<\/p>\n

Coinbase observed $76 billion in total trading volume, down from $92 billion in the June period.<\/p>\n

Consumer trading volumes fell to $11 billion from $14 billion in the June quarter, while institutional volumes dropped to $65 billion from $76 billion.<\/p>\n

Bitcoin trading volume represented 38% of overall volume, compared with 40% in the June quarter.<\/p>\n

Coinbase noted that it saw about $105 million in total transaction revenue during the month of October, \u201cthough we urge caution in extrapolating these results,\u201d the company said.<\/p>\n

Management expects fourth-quarter subscription and services revenue to be about flat on a sequential basis, assuming no major changes in the crypto and fiat assets that customers store on its platform. Analysts were modeling $335 million in subscription and services revenue for the current quarter, whereas Coinbase saw $334 million in the third quarter.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Coinbase Global Inc. saw revenue rise by more than what was expected in its latest quarter, but trading volumes continued to decline….<\/p>\n","protected":false},"author":1,"featured_media":9115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-9114","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investment"},"yoast_head":"\nCoinbase sees trading volume continue to fall, but revenue beats expectations | inFundPros<\/title>\n<meta name=\"description\" content=\"Coinbase Global Inc. saw revenue rise by more than what was expected in its latest quarter, but trading volumes continued to decline. 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