{"id":593881,"date":"2024-11-01T07:16:57","date_gmt":"2024-11-01T07:16:57","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=593881"},"modified":"2024-11-01T15:17:22","modified_gmt":"2024-11-01T15:17:22","slug":"coinbase-shares-plunge-15-in-worst-day-in-two-years-after-earnings-miss","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/coinbase-shares-plunge-15-in-worst-day-in-two-years-after-earnings-miss","title":{"rendered":"Coinbase Shares Plunge 15% In Worst Day In Two Years After Earnings Miss"},"content":{"rendered":"

Shares of leading US crypto exchange Coinbase nosedived, recording their steepest one day decline in two years on Oct. 31 after it reported third-quarter earnings came in below analyst expectations.<\/p>\n

Coinbase Global (COIN) shares plunged 15.3% to close at $179.25 amid broad market weakness. This marked COIN’s steepest drop since July 2022 amid an SEC probe of the company.<\/p>\n

Coinbase’s earnings per share came in at $0.28 for the quarter, well below expectations for $0.45. Revenue of $1.21 billion missed the $1.26 billion forecast, too, while Coinbase’s net income of $75 million was short of the expected $112.2 million.<\/p>\n

Meanwhile, transaction revenue declined 27% quarter-over-quarter to $573 million, although that was 98% up on the same quarter a year earlier.<\/p>\n

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LOL. Coinbase drops 15% after earnings, posts worst day in more than two years.<\/p>\n

You know what can help with earnings?? List $PEPE<\/a><\/p>\n

Get ready $PEPE<\/a> army..Its coming!
🐸
pic.twitter.com\/2x4RyPVOmn<\/a><\/p>\n

— davie satoshi (@NFTdavie) November 1, 2024<\/a><\/p><\/blockquote>\n