COIN Plunges 5% on Missed Revenue Estimates

Coinbase's (COIN) stock price declined by 5% after the company announced its Q2 financial results, which missed revenue estimates.

The revenue figure of $616 million fell short of analyst predictions of $640 million, according to data from FactSet. This marks a decline from Q1's revenue of $703 million and represents a 12% year-over-year decrease.

Coinbase is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services. The company owns and invests in digital asset businesses and digital assets, and CoinDesk employees may receive Bullish equity-based compensation.