08-10-2022, 11:12 AM
- Coinbase’s revenue declined almost 64% in the quarter as cryptocurrency prices fell.
- The exchange operator lowered its full-year forecast for transacting users.
- Coinbase said during the quarter it was trimming 18% of headcount.
![[Image: GettyImages-1234552839.jpg?auto=webp&opt...&width=912]](https://www.bankrate.com/2021/09/07122021/GettyImages-1234552839.jpg?auto=webp&optimize=high&crop=16:9&width=912)
Shares dropped in extended trading on Tuesday after the crypto exchange reported a loss of over $1 billion in the second quarter and missed analysts’ estimates for revenue.
Here’s how the company did:
- Earnings: Loss of $4.98 per share, vs. loss of $2.65 per share as expected by analysts, according to Refinitiv.
- Revenue: $808.3 million, vs. $832.2 million as expected by analysts, according to Refinitiv.
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