Coinbase Q2 Earnings: Revenue Beat, Transaction Revenue Falls, Subscription And Services Revenue Jumps; Bitcoin 35% Of Trading Volumes And More
Portfolio Pulse from Adam Eckert
Coinbase Global Inc (NASDAQ:COIN) reported Q2 earnings with revenue of $1.449 billion, beating estimates. Transaction revenue fell 11% QoQ, while subscription and services revenue rose 17% QoQ. Bitcoin accounted for 35% of trading volumes. The company expects Q3 subscription and services revenue to be between $530 million and $600 million.
August 01, 2024 | 8:37 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Coinbase reported Q2 revenue of $1.449 billion, beating estimates. Transaction revenue fell 11% QoQ, while subscription and services revenue rose 17% QoQ. Bitcoin accounted for 35% of trading volumes. The company expects Q3 subscription and services revenue to be between $530 million and $600 million.
Coinbase's Q2 earnings beat estimates, which is a positive indicator for the stock. The increase in subscription and services revenue shows progress in diversifying revenue streams, which is crucial for long-term growth. The Q3 outlook is also positive, despite some headwinds.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100