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Coinbase Returns to Profit as Revenue Mix Shifts

Business · First reported 29 Oct, 20:19 · Updated 21:58

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

Coinbase reported a quarterly profit, with investment gains lifting earnings while trading revenue weakened. Growth in prediction markets and subscription services added to revenue diversification.

  • Coinbase reported third-quarter net income of about $719 million; roughly $715 million came from gains on crypto holdings, and adjusted net income was $78 million.
  • Transaction revenue was about $590 million. One report said it fell 43% from a year earlier, while another said total revenue was $1.22 billion, down 35% year over year.
  • Prediction-market revenue exceeded $200 million, and subscription and services made up roughly half of net revenue.
Summary written by Lux AI from 3 articles

Key facts

Third-quarter net income
$718.7 million, or $2.51 per share
Adjusted net income
$78 million
Total revenue
$1.22 billion
Transaction revenue
About $590 million
Prediction-market revenue
More than $200 million
Operating expenses
$1.15 billion, down about 17% year over year

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