Coinbase Exceeds Analyst Expectations with Q3 Revenue of $674.1 Million

Coinbase reported a narrower net loss of $2 million in the third quarter and a total transaction volume of $76 billion, despite a year-on-year increase in revenue, even in the face of lower trading volumes.

According to a Nov. 2 earnings statement, the company’s total revenue increased by 14.2% year-on-year to $674.1 million, although it experienced a 4.8% quarter-on-quarter revenue decline. This figure exceeded the estimate of $653.2 million provided by the London Stock Exchange Group, as reported by Reuters.