Coinbase stock moved after reporting earnings that missed Wall Street expectations as crypto markets weakened. The company posted a loss of $2.49 per share on $1.78B in revenue, which came in below analyst estimates. Quarterly revenue declined 21.6% as Bitcoin and the broader crypto market pulled back from recent highs, impacting trading activity and transaction revenue.
Despite the miss, Coinbase shares gained in after-hours trading, with CEO Brian Armstrong highlighting strong full-year growth, rising assets on platform, and expanding subscriptions. With Bitcoin down significantly from its all-time high, investors are now watching whether Coinbase can position itself for the next crypto cycle.
