Coinbase’s earnings fall short of expectations as crypto winter rages

Today after the bell, the largest US cryptocurrency exchange Coinbase reported its second quarter performance. In the second quarter, Coinbase reported net revenues of $802.6 million and earnings per share of -$4.98 (diluted), predicated on net income of -$1.09 billion. The company’s adjusted EBITDA, a highly non-GAAP metric, was -$151 million in the period.
Analysts had expected the company to lose $2.65 per share off revenues of $832 million, per averages shared by Yahoo Finance. Per those estimates, Coinbase posted a top-and-bottom line miss.
Coinbase shares were off around 10.5% during re

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