Coinbase records its third consecutive quarter in the black

I will share with you all an article by RAYDEN LINDREA, related to Coinbase shares up 3% as cryptocurrency trading doubles from last year, namely Coinbase records its third consecutive quarter in the black, with net income up 108% and trading volumes up 145% from a year earlier.

The truth is, "Coinbase shares were up 3.2% after hours following the release of its latest Q2 results, reporting USD 1.4 billion in revenue in the second quarter along with a sizable year-over-year increase in cryptocurrency trading volumes."

On the other hand, "On the revenue side, Coinbase gained further ground with subscription and services revenue, which includes stablecoin revenue, blockchain rewards and fees. This marked a 17% increase over Q1 and nearly doubled over Q2 2023."

Even, "The exchange's transaction revenue, which results from cryptocurrency trading activity, doubled from the second quarter of 2023, reaching USD 780.9 million, although it declined from the first quarter."

Finally, "Coinbase said this included USD 319 million in pre-tax cryptocurrency losses in its investment portfolio, mostly unrealized losses, as market prices were lower at the end of the second quarter than in the first quarter"

Cointelegraph. Coinbase shares rise 3% as Q2 crypto trading doubles from last year. Link