Coinbase disclosed a net loss of $359.5 million, or $1.36 per share, in the quarter through June 30, falling short of Wall Street targets for the third quarter in a row as softness in crypto markets eroded trading income.
Revenue fell to $1.2 billion from $1.5 billion in the same period a year earlier
Analysts surveyed by LSEG had expected a loss of 17 cents per share and revenue of $1.3 billion, according to CNBC. A year earlier, Coinbase recorded a profit of $1.43 billion, or $5.14 per share. Transaction revenue reached $599 million for the quarter, with subscription and services revenue adding another $555 million.
Each figure came in under what analysts had projected and below year-ago levels, according to CoinDesk. Stablecoin revenue fell to $292 million, a drop of $17 million from the second quarter of 2025, according to CNBC. Chief Financial Officer Alesia Haas described a difficult operating environment, noting that industrywide spot trading volumes slid more than 20% while the overall crypto market capitalization shrank by double digits.