Why Bitcoin-, Ethereum- And Litecoin-Related Stock Coinbase Is Rising – Coinbase Global (NASDAQ:COIN)

Why Bitcoin-, Ethereum- And Litecoin-Related Stock Coinbase Is Rising – Coinbase Global (NASDAQ:COIN)

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Coinbase Global Inc COIN shares are trading higher by 4.73% to $58.44 during Friday’s session after the company reported third-quarter financial results and issued FY22 guidance.

What Happened?

Coinbase reported third-quarter revenue of $590.34 million, down 28% sequentially. The revenue total missed a Street estimate of $659.88 million, according to data from Benzinga Pro.

The company reported a loss of $2.43 per share, missing a Street estimate of a loss of $2.40 per share.

Transaction revenue was $366 million in the third quarter, down 44% sequentially. Subscription and services revenue of $211 million was up 43% sequentially…Read More

Coinbase Global has a 52-week high of $368.90 and a 52-week low of $40.83.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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