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.
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.