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A smartphone with Coinbase logo and cryptocurrency performance is located on the keyboard on this photo taken on June 8, 2023.
Date of Ruvi | Reuters
Base The shares declined when the profits in the first quarter came in the shy of Wall Street expectations, despite the growth of income.
In the quarter, ended on March 31, Coinbase earned $ 65.6 million, or 24 cents per share, which decreased compared to $ 1.18 billion, or $ 4.40 a year ago. With the exception of the exposure to the crystal investment, Coinbase’s profit was $ 527 million, or $ 1.94 per share.
Revenue rose to $ 2.03 billion from $ 1.64 billion a year ago, but was ashamed of $ 2.12 billion with LSEG.
The revenue from the transactions amounted to $ 1.26 billion per quarter, and the subscription and services income amounted to $ 698.1 million in the quarter.
The company, which operates in the largest market for cryptocurrencies in the US, said consumers decreased by 17% from the fourth quarter to $ 78.1 billion. At the end of last year, the volume of President Donald Trump was erected and hoped that it will bring a more favorable normative environment.
The institutional trading volume fell by 9% from the fourth quarter to $ 315 billion.
In the first quarter of January 20, on January 20, several positive developments for cryptocurrency, including Bitcoin, took place. However, Trump’s concern about Trump’s tariff policy has caused great instability in April, mitigating an investor appetite for more risky assets such as kryptus.
Coinbase stated that she alone brought about $ 240 million in April.
In the second quarter, Coinbase expects revenue from subscriptions and services within $ 600 to $ 680.
The company notes that revenue growth in the second quarter is likely to be more than compensated by the smaller Blockchain awards with a decrease in asset prices.
Earlier on Thursday Coinbase announced plans to buy Dubai DeribitMain crypto -production exchange for $ 2.9 billion. A deal that is the biggest in the crypto -industry to date will help Coinbase expand its mark outside the US
In the first quarter, Coinbase stated that his business derived continued to develop market share.
Coinbase reserves fell by 2% in advanced trade. The shares received 5% in the session on Thursday, but today decreased by almost 17%.
Read the full Coinbase A letter of shareholders here.
