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Coinbase shares fall as muted crypto trading leads to a third-quarter miss - TL;DR CNBC

Coinbase shares fall as muted crypto trading leads to a third-quarter miss

Publishing timestamp: 2024-10-30 20:30:47


Summary

Coinbase reported weaker-than-expected third-quarter results due to muted trading in the cryptocurrency market. The company's stock fell in extended trading after missing earnings and revenue expectations. Revenue from retail trading grew, but the drop in the price of ether in October could offset growth in the subscription and services segment. The cryptocurrency market has been stagnant, with Bitcoin lacking significant catalysts. Coinbase also announced a $1 billion stock buyback in its earnings report.


Sentiment: NEGATIVE

Tickers: COINETH.CM=USDC.CM=

Keywords: cryptocurrencytechnologyethereum/usd coin metricsbusiness newsearningsbreaking news: technologyusd coin/usdbitcoinbitcoin/usd coin metricscoinbase global incbreaking news: earningsinvestment strategybreaking news: marketsbreaking news: investingmarkets

Source: https://www.cnbc.com/2024/10/30/coinbase-coin-earnings-q3-2024.html


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