Coinbase Q2 Loss Widens as Weaker Crypto Trading Activity Weighs on Results

Coinbase reported a wider-than-expected second-quarter loss and missed revenue estimates as weaker crypto trading activity weighed on results. The company's net loss per share was $1.36, compared to analysts' expectations of a loss of $0.01 per share.

Revenue fell to $1.22 billion from the year-ago period, missing analysts' estimates of $1.35 billion. Despite this, Coinbase's subscription and services business grew, accounting for 48% of net revenue.

The company highlighted its growing reliance on recurring revenue streams such as stablecoins, subscriptions, and newer offerings like derivatives and prediction markets. This helped cushion the impact of weaker crypto trading, which declined 21% quarter-over-quarter to $599 million.