Coinbase Q1 2023 Revenue Beats Estimates As Markets Rebound

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Coinbase Q1 2023 Revenue Beats Estimates As Markets Rebound

Bloomberg2023-05-05

See interest income hurt by USD Coin’s lower market capCoinbase forecasts lower subscription and service revenuePhotographer: Tiffany Hagler-Geard/BloombergCoinbase Global Inc. posted a narrower loss ...

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买香蕉也用券
·2023-05-06
Dripp
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中蓝的中榕
·2023-05-05
bullish
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runningjames
·2023-05-05
Great... Sell if profitable, might dip back below anytime
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It was the fifth consecutive quarterly loss. Revenue fell by about 34% to $772.5 million, though it increased from the fourth quarter, when token prices tumbled amid a series of industry scandals and bankruptcies. The average of estimates compiled by Bloomberg for revenue was about $654 million. Looking ahead, the crypto industry “continues to be volatile, as evidenced most recently by the disruptions in the banking sector and ongoing regulatory uncertainty,” Coinbase said in an investor letter. “We continue to focus on our cost reduction efforts.”For the second quarter, the company expects lower subscription and service revenue from the first quarter, driven by lower USD Coin market capitalization, it said. Interest income from USD Coin was $199 million, according to the letter. Coinbase has been navigating a market downturn and a difficult US regulatory environment. 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