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Coinbase to face earnings test after job cuts announcement, rough crypto market stretch
Investors will be looking to Coinbase Global (COIN) CEO Brian Armstrong for fresh remarks on his firm’s forward prospects when it reports first quarter results on Thursday that will show how the major crypto exchange weathered a rough stretch in crypto markets. Coinbase is expected to post year-over-year declines across nearly all of its business units, along with its lowest adjusted earnings in two years and a net income loss, according to analyst forecasts compiled by Bloomberg. Earlier this week, Coinbase said it plans to reduce its headcount by 14%, citing “current market conditions” and a need to ... (full story)
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