Posted 11/2/2023, 9:37:00 PM
Coinbase Beats on Revenue But Sees Decline in Trading Volume Again
- Coinbase revenue beats expectations but trading volume falls again
- Net loss of $2 million vs $545 million loss a year ago
- Adjusted EBITDA of $181 million vs $116 million loss a year prior
- Revenue rose to $674 million from $590 million
- Consumer transaction revenue down 11% sequentially to $275 million
- Institutional transaction revenue fell 18% to $14 million
- Total trading volume declined to $76 billion from $92 billion
- October transaction revenue was $105 million but volatility expected