Coinbase's earnings fall short of expectations, shares drop 3% in extended trading

From Yahoo Finance: 2025-05-08 17:19:00

Coinbase announced the acquisition of Deribit, a crypto options exchange, for $2.9 billion. First-quarter earnings missed expectations, with revenue at $2.03 billion, down 24% from last year. Adjusted net income was $526.63 million, falling short of estimates. Shares dropped 3% in extended trading after a 5% jump during regular session.

Looking forward, Coinbase expects second-quarter subscription and services revenue to be between $600 million and $680 million, below analyst expectations of $704 million. Global trade policy uncertainty is impacting consumer sentiment and could affect crypto trading markets. Coinbase also reported the acquisition of Deribit for $2.9 billion in cash and stock.



Read more at Yahoo Finance: Coinbase Stock Gives Up Some of Its Bitcoin-Fueled Gains as Earnings Underwhelm