Coinbase and Strategy Report Weaker-than-Expected Earnings

Crypto exchange Coinbase and Bitcoin treasury firm Strategy both reported weaker-than-expected earnings for the second quarter, leading to a decline in their respective stock prices. According to Coinbase's press release, the crypto exchange recorded revenue of $1.220 billion in Q2, below estimates of $1.28 billion.

The company also reported an earnings per share (EPS) of -$1.36, which was lower than estimates of -$0.42. Meanwhile, Strategy recorded revenue of $122 million, below estimates of $124.48 million, with EPS of -$24.45, well below estimates of $3.07.

The decline in stock prices is notable, with Coinbase's stock currently trading around $155, down over 5%, while Strategy's stock is trading at around $97, down less than 1% in after-market trading.