Coinbase reported a revenue drop in Q3 2024, with sales falling to $1.2 billion, missing analysts' expectations of $1.26 billion. Although the company's profit rose to $75 million compared to a loss last year, it attributed the revenue decline to decreased trading volumes from retail users, which dropped to $483 million, a 27% fall from the previous quarter. In response to this downturn, Coinbase announced a $1 billion stock repurchasing program, with timing depending on market conditions. Despite this, after-hours trading saw the stock drop 4% to $202. The company's unique services, including subscription revenue and its Ethereum layer-2 network, Base, which saw a 55% increase in transactions, were highlighted as growth areas. The CEO expressed optimism regarding long-term stablecoin revenue and ongoing efforts to diversify beyond retail trading, especially looking toward potential regulatory shifts post the 2024 election.

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