Coinbase shares are trading lower after the company reported Q3 EPS and sales below estimates.
Portfolio Pulse from Benzinga Newsdesk
Coinbase shares declined as the company reported Q3 earnings per share (EPS) and sales figures that were below market estimates.
October 31, 2024 | 1:24 pm
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NEGATIVE IMPACT
Coinbase's Q3 financial results fell short of expectations, leading to a decline in its stock price. The company reported both EPS and sales below estimates, which has negatively impacted investor sentiment.
The shortfall in both EPS and sales indicates weaker-than-expected financial performance, which typically results in a negative reaction from investors. This is likely to put downward pressure on Coinbase's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100