Last Updated on August 4, 2023 by Bitfinsider
Coinbase exceeded analyst expectations by recording revenue of $707.9 million in the second quarter of 2023, compared to $808.3 million in the same period last year.
Analysts had predicted $629 million in revenue. The cryptocurrency exchange lost $97.4 million in the second quarter, compared to a $1.1 billion loss the previous year.
In a letter to shareholders, Coinbase stated, “Q2 was a strong quarter of execution for Coinbase and marked continued progress in our journey to build a company that is increasingly efficient and financially disciplined.” The corporation is currently involved in a legal dispute with the Securities and Exchange Commission.
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