- Coinbase (COIN) exceeded expectations in its Q3 earnings report, with an adjusted loss of $0.01 per share, beating the estimated loss of $0.55 per share.
- The company reported total Q3 revenue of $674.1 million, surpassing analyst estimates of $650.9 million.
- However, Coinbase’s Q3 total trading volume was $76 billion, falling short of expectations of $80.1 billion and declining from the previous quarter’s $92 billion.
- Transaction revenue for Q3 was $288.6 million, marking a 12% decrease from the previous quarter’s $327 million.
- Coinbase cited declining crypto markets and increased volatility as factors contributing to the fall in transaction revenue.