Coinbase Posts Strong Q2 Results Amid SEC Lawsuit Withdrawal
The company posted better-than-expected numbers in comparison to the Street estimates. The company exceeded analyst expectations by posting a loss per share of 42 cents, surpassing the predicted loss of 76 cents. Additionally, their adjusted revenue of $708 million was higher than the expected $628 million, as reported by FactSet analysts. advertisement n terms of revenue breakdown, subscription revenue amounted to $335 million, showing a 7% decrease compared to the previous quarter. Transaction revenue, on the other hand, reached $327 million. In the last quarter, subscription revenue was $362 million, and transaction revenue amounted to $375 million. As of Thursday closing, the Coinbase (NASDAQ: COIN) stock has been trading at $90.75. The COIN stock has seen a 10% retracement over the last two weeks. At the current price levels, the COIN stock is still trading at 170% gains year-to-date. Coinbase ’s biggest supporter Cathie Wood’s Ark Invest has bee...