Coinbase set to report weaker first-quarter earnings
Updated
Updated · Barron's · May 7
Coinbase set to report weaker first-quarter earnings
13 articles · Updated · Barron's · May 7
Analysts forecast 6 cents a share on $1.49 billion revenue and $222.9 billion trading volume, down from $2.03 billion revenue and $393 billion volume a year earlier.
The expected weakness reflects a broader crypto slowdown, with Bitcoin still more than 30% below its October peak despite a recent rebound, while Coinbase shares are down 13.6% this year.
Robinhood's first-quarter crypto revenue fell 47%, adding to concerns before Coinbase reports, as the company cuts about 14% of staff and seeks growth from non-trading businesses including stablecoin partnership revenue.
New US laws threaten stablecoin rewards. Is Coinbase's most promising non-trading revenue stream already on the chopping block?
With trading revenue in freefall, can Coinbase's AI pivot and new ventures truly save it from the crypto winter?