US-based cryptocurrency exchange Coinbase announced that its third-quarter revenue was $590 million, below estimates of $641 million.
Coinbase has announced its third quarter report. Company income 641 million Contrary to dollar forecasts 590 million dollars was limited to.
The number of monthly transaction users (MTU) of the company is 7.7 million exceeding expectations 8.5 million was recorded as. However, transaction revenues compared to the second quarter 44% down 366 million It was reported that the dollar fell.
Coinbase, which made more profit than expected from subscription and service revenue, compared to the second quarter in this area. 43% more earned more income. Data analysis platform of FactSet the company’s subscription and service revenues continue to increase, and in 2021 from 500 million dollars your excess income this year 700 million dollars expected to arrive.
On the other hand, the Coinbase facade thinks next year will be difficult. In the statement made in parallel with the third quarter report, “current macroeconomic headwinds will continue and likely intensify” predictions were included.
Coinbase’s trading volume this quarter $159 billion taking place as 191 billion dollars was below expectations. Individual investors only 26 billion dollars institutional investors 133 billion dollars they had a share. Coinbase’s thanks to “firing and economic restraint” compared to the previous quarter 1.8 billion from the dollar level 1.1 billion fell to the dollar.
After the announcement of the reports, there were fluctuations in the shares of the stock market. COIN shares $53.40 after market pricing for $60 rose up. With the market closing up to $55.80 There have been retreats.
Yesterday Coinbase, Chief Product Officer Surogit Chatterjeeannounced that it restructured its entire product team following the departure of . The restructuring will divide Coinbase’s product capability into four segments, according to a filing with the Securities and Exchange Commission (SEC).