Coinbase Glb Q2 EPS $(0.42) Beats $(0.78) Estimate, Sales $707.91M Beat $643.36M Estimate
Portfolio Pulse from Benzinga Newsdesk
Coinbase Global (NASDAQ:COIN) reported Q2 losses of $0.42 per share, beating the analyst consensus estimate of $0.78 by 46.15%. This is a 91.57% increase over losses from the same period last year. The company also reported quarterly sales of $707.91 million, beating the analyst consensus estimate of $643.36 million by 10.03%. However, this is a 12.42% decrease over sales from the same period last year.
August 04, 2023 | 2:23 pm
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POSITIVE IMPACT
Coinbase Global's Q2 results beat estimates, with a significant reduction in losses and higher than expected sales. However, sales have decreased compared to the same period last year.
Coinbase Global's better than expected Q2 results could lead to a short-term positive impact on its stock price. However, the decrease in sales compared to the same period last year could be a concern for investors.
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IMPORTANCE 80
RELEVANCE 100