Coinbase falls short on revenue as trading volumes slump 30%
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Buy the Post-Earnings Dip in Coinbase (COIN) Says Analyst as Q3 Revenue Miss Drags Shares 11% Lower
November 10, 2021 6:45 AM ESTShares of Coinbase (NASDAQ: COIN) are down more than 11% in pre-open Wednesday after the company reported mixed Q3 results.
Coinbase reported Q3 EPS of $1.62 to beat the analyst estimate of $1.57. Revenue for the quarter came in at $1.31 billion, well below the consensus estimate of $1.56 billion.
The number of monthly transacting users fell to 7.4 million from 8.8 million in Q2, and compared to 6.1 million a year ago. Revenue missed as trading volume fell to $327 billion from $462 billion in Q2.
Q3 was a strong quarter for Coinbase marked by deeper customer engagement with our products,... More
