Coinbase Shares Rise After Q2 Revenue Beats Wall Street Expectations

The post Coinbase Shares Rise After Q2 Revenue Beats Wall Street Expectations appeared first on Coinpedia Fintech News

Coinbase’s (COIN) second-quarter revenue beat the Wall Street analysts’ estimates slightly as the industry continues to recover from the crypto winter. Its second quarter’s total revenue was $1.45 billion versus average estimate of about $1.4 billion. Coinbase’s biggest source of income comes from transaction fees, which slipped 27% from the previous quarter as trading volume fell 28%. The stock rose about 2% in the minutes following the report. The crypto exchange posted better-than-expected revenue mostly due to its sales diversification strategy.