Coinbase Shares Sink as Revenue Falls Short of Estimates
Main Idea
Coinbase reported lower-than-expected Q2 2025 earnings, with revenue and non-GAAP earnings per share missing analyst forecasts, but highlighted regulatory wins and strong interest in new products.
Key Points
1. Coinbase reported $1.5 billion in revenue and $0.12 in non-GAAP earnings per share, missing analysts' estimates of $1.56-$1.59 billion and $1.49 per share, respectively.
2. Shares of Coinbase tumbled more than 8% following the earnings miss.
3. Subscription and services revenue declined 6% to $656 million, though stablecoin-related revenue rose 12% to $332 million.
4. Coinbase highlighted regulatory wins, including the signing of the GENIUS Act and the passage of the CLARITY Act, calling them 'monumental' for the crypto industry.
5. The company noted strong interest in new products like its Base App and an upcoming 'everything exchange' platform for tokenized assets.
Description
Coinbase reported $1.5 billion in revenue and just $0.12 in non-GAAP earnings per share—well below analysts' forecasts. The weak performance was largely due to declining transaction volumes, though subscription and services revenue showed resilience. Despite the financial miss, Coinbase pointed out some important regulatory wins like the GENIUS and CLARITY Acts and revealed strong interest in new products including its Base App and the upcoming “everything exchange” platform for tokenized assets...
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