Coinbase Stock Sinks as Q2 Revenue Falls Short of Estimate

Coinbase Global Inc. ) shares are trading lower Friday after the company reported second-quarter results on Thursday after the market closed.Coinbase stock is feeling bearish pressure. Coinbase Misses Estimates but Hits Record Market ShareCoinbase reported an adjusted loss of 40 cents per share, the consensus estimate of an 11 cent loss. In addition, it reported revenue of $1.22 billion, missing $1.31 billion.Crypto trading volume market share reached an all-time high of 10.3%, up from 9.1% in Q1, marking the company’s third consecutive quarter of market share gains. Prediction markets contracts and revenue grew 106% quarter-over-quarter, crossing $100 million in annualized revenue. Average USDC held in Coinbase products reached an all-time high of $20 billion.The company delivered its 14th consecutive quarter of positive adjusted EBITDA and narrowed its full-year 2026 adjusted expenses guidance.“In Q2 we hit our 3rd consecutive all-time high in crypto trading volume market share, proving our Everything Exchange can deliver in all market conditions,” said Brian Armstrong, Co-Founder and CEO of Coinbase. “Coinbase is no longer a bet just on the price of Bitcoin.” Read Also: Coinbase Shares Plummet COIN Price Action: At the time of publication, Coinbase shares are trading 6.20% lower at $153.43, according to data from Image via Shutterstock