Coinbase shares rise after nontrading revenues increase amid a continued crypto winter | TechCrunch

Coinbase, the second-largest crypto exchange by trading volume, released its Q4 2022 earnings on Tuesday, giving shareholders and market players alike an updated look into its financials. In response to the report, the company’s shares are down modestly in early after-hours trading.

In the fourth quarter of 2022, Coinbase generated $605 million in total revenue, down sharply from $2.49 billion in the year-ago quarter. Coinbase’s top line was not enough to cover its expenses: The company lost $557 million in the three-month period on a GAAP basis (net income) worth -$2.46 per share, and an adjusted EBITDA deficit of $124 million.

Read More

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s