COIN shares have dropped in after-hours trading as the crypto exchange missed earnings estimates, blaming “softer market conditions.”
Shares of Coinbase Global Inc (COIN) dropped nearly 3.7% in after-hours trading as its third-quarter 2024 results for earnings and revenue came in below Wall Street estimates, with the crypto exchange blaming “softer market conditions.”
Coinbase’s Q3 results shared on Oct. 30 show revenues hit $1.13 billion, up over 81% from the same quarter a year ago but missing Wall Street analysts forecasted revenues of $1.26 billion by nearly 11%.
The crypto exchange’s earnings per share came in at 28 cents, missing analyst expectations of 45 cents a share by 46.5%.
