Coinbase has reported its Q1 2023 financial results, surpassing expectations with net revenues of $736 million, a $79 million net loss, and adjusted EBITDA of $284 million. This is higher than the expected revenue of $655 million and a larger loss predicted by analysts. The company's results have been received positively by both crypto enthusiasts and investors. The article explores how Coinbase managed to beat analyst estimates, its forecast for the coming quarter, and whether it can maintain its return to adjusted profitability. Comparing Coinbase's Q1 2023 results to its year-ago totals, the company's revenue was lower, but its net loss was significantly smaller, and its adjusted EBITDA was much higher.