Coinbase Q2 revenue falls as trading slows; shares fall
COIN•Outlook
- Company did not provide specific guidance for current qtr or full yr
Overview
- US crypto exchange's Q2 revenue fell 14% Q/Q amid lower trading volumes and volatility
- Coinbase posted Q2 net loss of $359 mln and adjusted EBITDA of $208 mln
- Company cited macro headwinds and softening spot market conditions for revenue decline
- Shares of the company were down about 6% in extended trading
Result Drivers
- Lower trading activity - Co said a decline in total market crypto trading volumes and lower volatility suppressed trading activity
- Macro headwinds - Co cited macroeconomic headwinds and declining crypto asset prices as factors weighing on Q2 revenue
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | $1.22 bln | ||
| Q2 Net Loss | $359.47 mln | ||
| Q2 Adjusted EBITDA | $207.80 mln |
