Add as a preferred source on GoogleCoinbase Faces Lower Q3 Earnings Estimates Before Oct. 29 Results
Revenue is expected at $1.22 billion, while investors will weigh spending and whether stablecoin growth can offset softer trading.
Coinbase’s third-quarter report will put softer crypto trading and falling earnings estimates in focus, while testing whether stablecoin growth and newer products can help cushion the pressure.
Wall Street expects Coinbase to post $1.22 billion in revenue and non-GAAP earnings per share of $0.07. The earnings outlook has weakened, with several estimates revised down. Those figures are forecasts ahead of the release, not reported results.
Trading activity, subscription revenue and spending are among the items investors will monitor. Coinbase set a third-quarter expense target of $980 million to $1.08 billion. The company has also reduced its workforce by 14% as part of its cost-control efforts.
Investors will assess whether growth in stablecoins such as USD Coin (USDC), along with newer products, can offset softer trading. Coinbase is scheduled to release its results Thursday, Oct. 29, after the market closes.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.