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Coinbase posts steep first-quarter loss after slide in crypto prices, shares fall 4%
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Coinbase posts steep first-quarter loss after slide in crypto prices, shares fall 4%

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Coinbase posted lower-than-expected results for the first quarter as crypto prices fell, weighing on one of the companies' major revenue drivers β€” spot trading in digital assets . Here's how Coinbase performed in its quarter ended March 31, compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share:  $1.49 loss vs. 27 cent profit (estimated) Revenue:  $1.41 billion vs. $1.52 billion (est.) Coinbase shares were recently down 4% in postmarket trading. The company, which operates the largest cryptocurrency marketplace in the U.S., posted transaction revenue of $755.8 million versus $805.2 million expected by analysts. Subscription revenue came in at $583.5 million versus $619.3 million estimated. Investors were bracing for a sharp slowdown in trading volume given the crypto price slump at the start of the year. Bitcoin rose 12% in March, but posted a 22% decline in the first quarter.…

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