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Coinbase shares rise after non-trading revenues increase amid a continued crypto winter
linkweb3
2023-02-22
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Summary：Coinbase, the second-largest crypto exchange by trading volume, released its Q4 2022 earnings on Tuesday, giving shareholders and market players alike an updated look into its financials. In the fourth quarter of 2022, Coinbase generated $605 in total revenue, down sharply from $2.49 billion in the year-ago quarter. Coinbase’s top line was not enough to cover its expenses: The company lost $557 million in the three-month period on a GAAP basis (net income) worth -$2.46 per share, and an adjust
Coinbase, the second-largest crypto exchange by trading volume, released its Q4 2022 earnings on Tuesday, giving shareholders and market players alike an updated look into its financials. In the fourth quarter of 2022, Coinbase generated $605 in total revenue, down sharply from $2.49 billion in the year-ago quarter. Coinbase’s top line was not enough to cover its expenses: The company lost $557 million in the three-month period on a GAAP basis (net income) worth -$2.46 per share, and an adjusted EBITDA deficit of $124 million.
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