Coinbase shares dove 13% in the after-hours trading session, after closing with a 1% increase at $357.39, a closing record for the stock.Īnalysts largely expected Coinbase revenue to decline from the second quarter, the platform’s first full period as a public company. Total revenue grew to $1.31 billion from $286.7 million a year ago, but declined sequentially from $2.23 billion in the second quarter, while transaction revenue totaled $1.09 billion, down from $1.93 billion in the second quarter.Īlso read: Coinbase CEO anticipates planned NFT marketplace more akin to Instagram than eBayĪnalysts on average expected earnings of $1.82 a share on sales of $1.61 billion, with transaction revenue accounting for $1.31 billion, according to FactSet. The company reported third-quarter earnings of $405.3 million, or $1.62 a share, up from $81.3 million in profit in the same quarter a year ago, before the crypto-trading platform went public. So it’s a very important driver of our financials.”įinancials did not live up to expectations. “Our monthly transaction users and trading volumes and therefore transaction fee revenue all correlate with volatility. “The story of our third quarter really centers around lower volatility that we saw in the quarter,” Chief Financial Officer Alesia Haas said in a conference call Tuesday.
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