Million

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">The shares of the cryptocurrency exchange Coinbase rose significantly in after-hours trading on Thursday, May 4th. The rise comes after the company published its <a href="https://investor.coinbase.com/home/default.aspx" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">earnings report</a> for the first quarter of 2023 which showed that it managed to beat revenue estimates and significantly decrease its net loss.</p> 
<h3 id="coinbase-s-q1-revenue-up-to-773-million-net-loss-down-to-79-million">Coinbase’s Q1 Revenue Up to $773 Million, Net Loss Down to $79 Million</h3> 
<p>This Thursday, the cryptocurrency exchange Coinbase published its earnings report for the first quarter of 2023. The company revealed its revenue for the period amounted to $773 million—significantly higher than the analysts’ estimate of $629 million, and than <a href="https://tokenist.com/coinbase-reports-629-revenue-in-better-than-expected-q4-report/" rel="dofollow" class="deco-link">the Q4 revenue</a>. Additionally, while the firm reported a net loss—for the fifth time in a row—it dropped sharply from last year’s number and came to $79 million.</p> 
<p>However, the trading volume at the exchange remained roughly the same in the fourth quarter at $145 billion. The data highlights the impact the “crypto winter” had on the industry as the volume for the first quarter of 2022 <a href="https://www.cnbc.com/2022/05/10/coinbase-coin-earnings-q1-2022.html" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">stood above $300 billion</a>—double the most recent number. Following the release of the report, Coinbase’s shares noticeably spiked in the after-hours and were up more than 8% after trading mostly sideways for most of Thursday.</p> 
<p>The results are also in line with the recovery digital assets have been experiencing since the start of 2023. Major cryptocurrencies have gone through several rallies over the previous months and Bitcoin, for example, is up 73.73% year to date. Similarly, most digital assets-related stocks are significantly up with Coinbase itself being more than 46% in the green YTD.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="coinbase-continues-global-expansion-while-preparing-for-regulatory-battle-at-home">Coinbase Continues Global Expansion While Preparing for Regulatory Battle at Home</h3> 
<p>The first quarter of this year was not only marked by the rallies experienced by digital assets. The cryptocurrency industry has also been the target of intensified regulatory scrutiny with multiple companies finding themselves sued or investigated by US watchdogs. Additionally, several major firms have announced their departure from the American market.</p> 
<p>Despite its reputation for compliance, Coinbase was also not spared and it had received a Wells notice from the SEC warning of a likely enforcement action. In response, the exchange has signaled its willingness to keep working with regulators and its <a href="https://www.youtube.com/watch?v=pvbWPUCFdKA&amp;t=257s&amp;ab_channel=Coinbase" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">determination to fight them if needed</a>. It has also warned that it may, ultimately, join the exodus from the US and announced it would give greater focus to its global expansion.</p> 
<p>The shift brought its first material fruit earlier this week with the launch of Coinbase’s <a href="https://tokenist.com/coinbase-launches-perpetual-derivates-exchange-in-bermuda/" rel="dofollow" class="deco-link">Bermuda-based perpetual derivatives exchange</a>. In its press release, the company revealed that the new entity will initially be open to institutional investors “based in eligible jurisdictions outside of the US”.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><strong><em>Do you think Coinbase will break its net loss streak in Q2 2023? Let us know in the comments below.</em></strong></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/coinbase-rises-8-after-beating-q1-revenue-estimates/">Coinbase Rises 8%+ After Beating Q1 Revenue Estimates</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Coinbase Rises 8%+ After Beating Q1 Revenue Estimates

Table of Contents

TokenInsight

Outros artigos publicados em 4 de mai. de 2023

A Beginner's Guide to Move to Earn (M2E): What Is It and How Does It Work?

Litecoin price analysis: LTC finds support at $88 but can the bulls hold on?

𝗪𝗘𝗘𝗞𝗟𝗬 𝗡𝗘𝗪𝗦𝗟𝗘𝗧𝗧𝗘𝗥 l 𝟭𝟬𝟳

Andrew Tate’s Brutal Takedown of ‘Crypto Kids’ Generation

3 Ultimate Cryptos to Hold Until 2025!

Why is blockchain and AI a perfect match?

Join our free newsletter for daily crypto updates!