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Coinbase shares tumble as muted crypto trading leads to a third-quarter miss
Coinbase Wednesday reported weaker-than-expected third-quarter results, weighed down by muted trading in the cryptocurrency market. The stock fell more than 4% in extended trading. Here’s what the company reported for the third quarter compared with what Wall Street expected, according to a survey of analysts by LSEG: Earnings per share: 28 cents vs. 41 cents expected Revenue: $1.21 billion vs. $1.26 billion expected Coinbase, which operates the largest U.S. marketplace for buying and selling cryptocurrencies, reported net income of $75.5 million, or 28 cents per share, compared with a year-ago loss of $2.3 ... (full story)