Coinbase (COIN, Financial) shares declined by 5.6%, closing at $199.89. The cryptocurrency exchange faced investor disappointment following its third-quarter financial report.
For the quarter, Coinbase reported a revenue of $1.13 billion, which fell short of the market's prediction of $1.25 billion. Additionally, the company's earnings per share (EPS) stood at $0.28, missing the expected $0.43.
The trading volume for the period was $185 billion, slightly below the anticipated $186.44 billion, leading to further concerns among investors about the company’s performance.
