On May 4, Coinbase Global reported a fifth consecutive quarter of losses. The results show that customers and investors have fallen out of favor with the company despite a recovery for crypto markets during the first quarter.
The company posted a loss of $79 million, which is much lower than the $430 million it lost in the same period last year. The net loss per share equated to $0.34.
The results have beaten analysts’ expectations which were losses of $316 million or $1.45 per share.
Its total revenue was $772.5 million, which was 37% lower than the $1.1 billion in revenue for Q1 2022. However, total operating expenses were less than $900 million resulting in an operating loss of $124 million, according to the report. The losses were limited by a 20% cut in the Coinbase workforce in January.
Coinbase Retail Volumes Down
The firm’s retail trading activity did not grow much in the first quarter despite a 50% gain for the crypto markets. Its total trading volume fell to $145 billion
We współpracy z: https://cryptopotato.com/coinbase-posts-79m-net-loss-but-beats-expectations/
