Coinbase (room) reported Worse than expected of the second quarter results Thursday, sending its shares down 7% in post-commerce trade.
The Crypto Exchange recorded a total turnover of $ 1.5 billion, compared to $ 1.45 billion in the same quarter last year, but slightly lower than $ 1.59 billion estimates.
The profits adjusted before interest, taxes, depreciation and depreciation (EBITDA) reached $ 512 million, compared to $ 596 million a year ago.
The results show that the continuous sensitivity of coinbase to the cycles of the cryptography market. Even if Bitcoin (BTC) and Ether (ETH) have rallied to the new annual summits during the second quarter, the volume of transactions fell from a quarter to quarter, Coinbase said in a press release. As a result, transaction income was $ 764 million, a decrease of 39% compared to the first quarter.
The Coinbase report follows a Optimistic performance From his rival Robinhood (Hood), who reported his own quarterly results on Wednesday. Hood, who increased by 160% of the year, beat expectations while the company saw $ 28.3 billion in crypto trading volume in the second quarter.
Coinbase, meanwhile, continues to look at his double identity as a retail center and infrastructure of institutional cryptography. The company has launched childcare services for the Bitcoin Spot ETF, expanded its implementation and progress offers with its basic 2 network of layer 2, although these companies remain secondary to commercial income.
“In the second quarter, Coinbase made significant progress in the implementation of the financial system by expanding access to exchanges via innovative derivative products, listing more punctual assets and expanding our offers on the markets in the world,” said the company in its profits.
