Coinbase delivers Q3 beat as crypto trading volume jumps

Investing.com – Coinbase Global reported Thursday third-quarter results that topped Wall Street estimates as a jump in crypto trading volumes boosted performance.

Coinbase Global Inc (NASDAQ: COIN) shares were up 3% in after-hours trading following the report.

The cryptocurrency exchange reported Q3 earnings of $1.79 per share on revenue of $1.87 billion, beating with Wall Street expectations for earnings of $1.21 per share on revenue of $1.78B.

The results were driven by a growing transaction activity and continued growth in stablecoin-related services.

For Q4, Coinbase guided subscription and services revenue of $710M to $790M.

You May Also Be Interested In

• Etsy upgraded to buy at BofA on durable growth, buyback potential
• Deutsche Bank calls Treasury buyback doubling similar to ’operation twist’
• e-commerce stocks split as Rosenblatt favors Etsy, eBay; Chewy rated neutral