COIN

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 <a data-ct-non-breakable="null" href="https://s27.q4cdn.com/397450999/files/doc_financials/2024/q3/Q3-24-Shareholder-Letter.pdf" rel="noopener noreferrer nofollow" target="_blank" text="null" title="null">results</a> 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%.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/coinbase-armstrong-sec-criticism-united-states-elections" rel="null" target="null" text="null" title="null">Coinbase CEO wants next SEC chair to apologize for ‘damage’ done</a>
COIN closed down 3.61% at $211.74 and continued to fall a further 3.68% to $203.94 in early after-hours trading, <a data-ct-non-breakable="null" href="https://www.google.com/finance/quote/COIN:NASDAQ" rel="noopener noreferrer nofollow" target="_blank" text="null" title="null">according</a> to Google Finance. Its share price is up around 35% year-to-date.
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 <img alt="Coinbase shares drop after-hours on Q3 earnings miss" src="https://s3.cointelegraph.com/uploads/2024-10/0192df4f-65df-7bfe-a870-7e0d3eae3137" title="">
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 Coinbase traded mostly flat on Oct. 30, dropping after hours after it missed earnings expectations. Source: Google Finance
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Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-etf-coinbase-honeypot-hackers-government-trezor-ceo/" rel="null" target="null" text="null" title="null">Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments — Trezor CEO</a>
This is a developing story, and further information will be added as it becomes available.

Coinbase shares drop after-hours on Q3 earnings miss

Cointelegraph

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