Coinbase told its shareholders.

Coinbase releases Q3-Revenue Report! Here’s what the Exchange has to say about Q3-Revenue Report!

Coinbase Global Inc. (NASDAQ: COIN), released its third quarter 2022 earnings results Thursday. The company reported mixed earnings results in the third quarter, according to a letter sent to shareholders.

Accordingly, shares of the company closed Thursday trading at $55.80. This is 8.09 percent lower than the opening price. COIN shares gained approximately 5 percent in the post-hours trading session.

“Q3 results were largely consistent with the outlook we provided in August,”

Coinbase told its shareholders.

The company reported that its transaction revenue was $366 million in the third quarter. This is 44% less than Q2. Coinbase blames the uncontrollable macroeconomic forces that have impacted trading volumes and larger numbers.

Subscription and services revenue rose by 43 percent to $211 million. Coinbase reported that the third-quarter net revenue was $576 million. This is approximately 28% less than in the second quarter.

Coinbase, a market leader in cryptocurrency and blockchain technology, remains committed to long-term success. The company has also made significant investments in Web3 startups through direct investment and the listing of ecosystem tokens.

Yahya Imran is a crypto trader and blockchain content creator. He was a Campus Ambassador for FTX Africa and worked as a video content creator in the content Department of FTX Africa. He is a professional Video Editor and Video animator. He is the founder of Coinsplug.

Leave a Reply

Your email address will not be published. Required fields are marked *