Coinbase Shares Tumble as Q3 Revenues Fall Well Short of Estimates

Posted on by American Coins & Gold

Coinbase Shares Tumble as Q3 Revenues Fall Well Short of Estimates
Shares of Coinbase (COIN) were falling around 12% after-hours on Tuesday after the crypto exchange reported that its third-quarter revenue came in at just $1.24 billion, versus consensus analyst estimates of $1.61 billion, according to FactSet. Adjusted earnings per share for the quarter also missed at $1.62 versus estimates of $1.81.Coinbase posted $1.1 billion in transaction revenue in the third quarter, down from about $1.9 billion in the second quarter, the company said.Q3 trading volume was $327 billion, down from $462 billion in Q2.Coinbase had 7.4 million retail monthly transacting users (MTUs) in Q3, down from 8.8 million in Q2,…