The post Coinbase Shares Rise After Q2 Revenue Beats Wall Street Expectations appeared first on Coinpedia Fintech News
Coinbase’s (COIN) second-quarter revenue beat the Wall Street analysts’ estimates slightly as the industry continues to recover from the crypto winter. Its second quarter’s total revenue was $1.45 billion versus average estimate of about $1.4 billion. Coinbase’s biggest source of income comes from transaction fees, which slipped 27% from the previous quarter as trading volume fell 28%. The stock rose about 2% in the minutes following the report. The crypto exchange posted better-than-expected revenue mostly due to its sales diversification strategy.