Coinbase Stock Tumbles 7% After Disappointing Q2 Results

Description

Coinbase (COIN) reported worse than expected second-quarter results on Thursday, sending its shares down 7% in post-market trading. The crypto exchange posted total revenue of $1.5 billion, up from $1.45 billion in the same quarter last year but slightly lower than FactSet estimates of $1.59 billion. Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) came in at $512 million, down from $596 million a year ago. The results show Coinbase’s continued sensitivity to cryp...