Coinbase's Q4 trading volume decreased by 12% quarter-over-quarter, with net revenue slightly above expectations

2023-02-22 07:39:26

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ChainCatcher news, the financial data released by the cryptocurrency exchange Coinbase for the fourth quarter of 2022 shows that Coinbase's net revenue for the quarter was $605 million, exceeding analysts' expectations of $588 million, and up 5% from $590 million in the third quarter. The adjusted loss per share was $2.46, better than FactSet's previous expectation of a loss of $2.52 per share. However, due to a decline in overall trading volume, trading volume fell 12% quarter-over-quarter to $322 million.

Meanwhile, subscription and services revenue increased 34% quarter-over-quarter to $283 million, accounting for nearly 50% of total revenue, primarily due to interest income ($162.2 million). Coinbase stated in a letter to shareholders that the cryptocurrency market has improved compared to last year in the first quarter of this year, but the market may change in the future. (source link)

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