0%
#cryptohopper

Coinbase Registers Win in Q2, Albeit with Reduced Transaction Revenue

4 aug 2023 3 min gelezen
Afbeelding banner nieuwsartikel

Transaction revenue stumbled to $327 million from $375 million in Q1, while trading volumes plummeted to $92 billion from the preceding quarter's $145 billion. Coinbase attributes this dip to the lowest levels of crypto volatility seen in multiple years.

Coinbase's Mixed Q2 Outcomes

Interest income followed a similar downward trend, settling at $201 million in contrast to Q1's $241 million. A significant portion of this Q2 interest income, $151 million to be exact, was contributed by the USDC holdings of the company.

Concerning Q3's prospects, Coinbase provided an optimistic view, estimating transaction revenue of roughly $110 million in July. The company further anticipates the Q3 subscription and service revenue to be no less than $300 million, having reported $335 million in the previous quarter.

Coinbase shares showed initial resilience, surging by up to 9%, but soon gave up the gains, trading 1.4% lower at $89.48. In spite of the day's wavering, Coinbase shares have soared by about 160% this year, paralleling Bitcoin's impressive 75% increase within the same period.

CEO Brian Armstrong reflected on Q2's performance as a testament to Coinbase's resilience and efficient operation. He emphasized the company's readiness to shape the crypto economy's future while simultaneously advocating for clear regulatory measures.

However, some analysts express reservations. Berenberg's Mark Palmer pointed out the significant role of interest income and staking revenue in the beating of revenue estimates, warning that these areas might face risks amid declining USDC market capitalization and regulatory challenges. Furthermore, Palmer noted that interest income from USDC had sequentially dropped by 25%.

Management's guidance for the current quarter was described by Palmer as subdued, and he highlighted a massive adjustment for stock-based compensation in the company's adjusted EBITDA print. The focus on this particular area aligns with the management's intention to reduce it, responding to negative investor feedback.

In conclusion, Coinbase's Q2 results depict a mixed picture of success and emerging challenges. While outperforming analyst expectations, the decrease in transaction revenue and other underlying factors might point to an evolving landscape for the crypto exchange. The company's ability to navigate these changes will determine its continued growth and investor confidence in the quarters to come.

Populair nieuws

How to Set Up and Use Trust Wallet for Binance Smart Chain
#Bitcoin#Bitcoins#Config+2 meer tags

How to Set Up and Use Trust Wallet for Binance Smart Chain

Your Essential Guide To Binance Leveraged Tokens

Your Essential Guide To Binance Leveraged Tokens

How to Sell Your Bitcoin Into Cash on Binance (2021 Update)
#Subscriptions

How to Sell Your Bitcoin Into Cash on Binance (2021 Update)

What is Grid Trading? (A Crypto-Futures Guide)

What is Grid Trading? (A Crypto-Futures Guide)

Begin gratis te handelen met Cryptohopper!

Gratis te gebruiken - geen creditcard nodig

Laten we beginnen
Cryptohopper appCryptohopper app

Disclaimer: Cryptohopper is geen gereguleerde entiteit. De handel in cryptocurrency bots brengt aanzienlijke risico's met zich mee en in het verleden behaalde resultaten bieden geen garantie voor de toekomst. De winsten getoond in product screenshots zijn voor illustratieve doeleinden en kunnen overdreven zijn. Doe alleen aan bothandel als u over voldoende kennis beschikt of vraag advies aan een gekwalificeerd financieel adviseur. In geen geval aanvaardt Cryptohopper enige aansprakelijkheid jegens enige persoon of entiteit voor (a) enig verlies of schade, geheel of gedeeltelijk, veroorzaakt door, voortvloeiend uit of in verband met transacties met onze software of (b) enige directe, indirecte, speciale, gevolg- of incidentele schade. Houd er rekening mee dat de inhoud die beschikbaar is op het Cryptohopper sociale handelsplatform is gegenereerd door leden van de Cryptohopper gemeenschap en geen advies of aanbevelingen van Cryptohopper of namens haar vormt. Winsten getoond op de Marktplaats zijn niet indicatief voor toekomstige resultaten. Door gebruik te maken van de diensten van Cryptohopper, erkent en aanvaardt u de inherente risico's die betrokken zijn bij de handel in cryptocurrency en gaat u ermee akkoord Cryptohopper te vrijwaren van eventuele aansprakelijkheden of opgelopen verliezen. Het is essentieel om onze Servicevoorwaarden en Risicobeleid te lezen en te begrijpen voordat u onze software gebruikt of deelneemt aan handelsactiviteiten. Raadpleeg juridische en financiële professionals voor persoonlijk advies op basis van uw specifieke omstandigheden.

©2017 - 2024 Copyright door Cryptohopper™ - Alle rechten voorbehouden.