Coinbase (COIN) Q2 2023 earnings results beat revenue estimates on smaller than expected loss

Coinbase comfortably beat revenue expectations while taking a smaller loss than anticipated.


It’s been a rough year for the crypto world, which means there was increased attention on the latest earnings release from Coinbase (COIN), one of the industry’s leading exchange platforms. Coinbase’s Q2 2023 earnings report gives us a better idea of how it performed over the past few months. The company was able to skate past revenue expectations, while also losing less than expected on earnings.

Coinbases (COIN) Q2 2023 earnings report tells us everything we need to know about the company’s recent economic performance. Coinbase made $709 million in revenue during the quarter against an expectation of $634 million. As for earnings per share, it was a loss of $0.42 per share against a $0.77 expectation. In a letter to shareholders, Coinbase reaffirmed its current business goals.

The Coinbase logo on a smartphone screen.

Source: Getty Images

Coinbase (COIN) stock was going all over the place in after-hours trading, shooting up before plummeting back down as investors processed the information found within the report.

That’s the gist of our findings in Coinbase’s Q2 2023 earnings report. With a lot of uncertainty around the future of cryptocurrency, you can expect Shacknews to continue reporting on the industry’s biggest players. You can also count on us for the biggest earnings stories landing this week.

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Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_

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