Coinbase Q2 Revenue Misses Estimates at $1.22B, Stock Drops 5%

Coinbase reported Q2 revenue of $1.22B, missing estimates of $1.29B. Transaction and subscription incomes also fell short, triggering a 5% after-hours stock decline.

Woofun AI reports that Coinbase generated $1.22 billion in revenue during the second quarter, falling short of the market estimate of $1.29 billion. This shortfall caused the company's stock price to decline by approximately 5% in after-hours trading. Transaction-related income amounted to $599 million, against an expected $628 million, while subscription and service revenue totaled $555 million, missing the forecast of $599 million.

Additionally, Coinbase increased its holdings by acquiring 819 Bitcoin, bringing the total balance to 17,211 Bitcoin. This accumulation represents a 5% increase on a quarterly basis.