News
Coinbase posts $719 million Q3 profit driven by crypto gains
Coinbase reported third‑quarter net income of $719 million, or $2.51 per diluted share. Revenue was flat at $1.22 billion, matching expectations and down 35% year‑over‑year. About $715 million of the profit came from gains on crypto assets held on its balance sheet, while adjusted net income excluding those gains was $78 million. Transaction revenue slipped 1% to $590 million but beat analysts’ estimate of roughly $527 million. Prediction‑market revenue exceeded $200 million annualized and daily traders grew more than 60% from the prior quarter.