Cryptocurrencies
Coinbase Fluctuates With Revenue Just Below Estimates
- Forecast raised for full-year monthly transacting users
- With $2 billion in cash, the exchange plans more acquisitions
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Coinbase Global Inc. shares fluctuated in post-market trading Thursday after the biggest U.S. cryptocurrency exchange reported net income above Wall Street estimates.
Coinbase reported total sales of $1.8 billion, in line with its April guidance but slightly below $1.81 billion analysts polled by Bloomberg expected. The company’s net income of $771 million fell into the middle of guidance range of $730 million to $800 million, and exceeded analysts’ expectations of $762.6 million.