Coinbase Global Inc (NASDAQ: COIN) shares are trading lower Wednesday morning after the company announced weak financial results.
Coinbase reported first-quarter revenue of $1.17 billion, which came in below the $1.48 billion estimate, according to data from Benzinga Pro. The company reported an earnings loss of $1.98 per share, which was down from positive earnings of $3.05 per share year-over-year.
Coinbase said adjusted EBITDA totaled $20 million in the first quarter, which was down from $1.117 billion in the prior year quarter.
Monthly transacting …
Full story available on Benzinga.com