Coinbase beats on revenue and earnings, but usage continues to decline
Publishing timestamp: 2023-02-21 20:05:37
Summary
Coinbase reported fourth-quarter earnings after bell on Tuesday, beating expectations with $629 million in revenue. User numbers fell short of estimates, however, and the company reported a net loss of $557 million. Coinbase is attempting to diversify its revenue streams away from just trading fees, and is cutting back on spending to preserve cash. The stock rose more than 2% in extended trading after dropping 4.8% during the day.
Sentiment: MIXED
Keywords: breaking news: earnings, technology, energy, fintech, breaking news: technology, bitcoin, cryptocurrency, coinbase global inc, business news,
Source: https://www.cnbc.com/2023/02/21/coinbase-coin-earnings-q4-2022.html