Aug 4, 2023

Coinbase released its latest quarterly earnings results. Coinbase shares (COIN) have risen roughly 15% in the past month.

Video transcript

The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. So it wasn't just a jobs report. It's also coin base's earnings that have come out. The Crypto Exchange Beach analyst estimates for the second quarter reporting revenue of $708 million and a narrower than expected loss of 42 cents per share. Coin based shares have risen roughly 15% in the past month. Joining us now to discuss is senior analyst with Oppenheimer, a global full service brokerage and Investment bank. Welcome. Thank you for having me. It's our pleasure. All right. So your takeaways, you know, because the crypto exchange, uh it just beat on both the top and bottom lines, but transaction revenue and total trading volume fell. So what's your take? So I think overall in summary, it was a better than quarter. We had expected trading volume revenue and to decline quarter for quarter, essentially from one quarter. From the first quarter to the second quarter. It turned out that they came in both bottom line and top line came in better than expected. So I would say it's a better than fear quarter. But the interesting part of this quarter is the stock had a great run already. The stock went up by over 65% since the mid of June. So that's why you see a pretty mixed signal after the print, the stock gone up by 9% at one point and then went down 2% and then went up and then went down and now I think it's down a little bit. So that's why you see some volatility here.

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