Coinbase, the second largest crypto exchange by trading volume, announced its Q2 earnings, which beat market estimates. The company generated total revenues of $707.9 million, had a net loss of $97 million, and a positive adjusted EBITDA of $194 million during the quarter. Despite a decrease in revenue from the previous quarter and year-ago quarter, the company's quarterly recurring operating expenses have dropped nearly 50% Y/Y. Following the announcement, Coinbase's stock rose 7% in after-hours trading but retracted 2% at the time of publication.
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Coinbase Reports Q2 Earnings, Beats Market Estimates with $707.9 Million in Revenues
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Coinbase Chief Legal Officer: US SEC blocks Coinbase’s request to disclose Gary Gensler’s communication documents
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