Coinbase Shares Fall 6% on Company's Expectations
Main page Finance, Cryptocurrency Exchanges

The share price of US crypto exchange Coinbase has fallen 5.8% in the post-trading session after the company released its Q4 2021 financial results.

As noted, the market has reacted negatively to management's expectations regarding user activity in January-March.

According to the filing, earnings per share have risen to $3.32 versus a consensus estimate of $1.85, while revenue came in at $2.5 billion versus $1.94 billion expected, CNBC reports.

Notably, Coinbase shares are down 28.85% since the beginning of the year, while during the same period, Bitcoin has lost 16.3% of its value.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

In a letter to the company's shareholders, Coinbase has warned the platform's cumulative trading volume and monthly active retail users (MTU) in January-March will be lower than during the previous quarter.

According to Coinbase, this will occur due to the decrease in volatility and crypto market capitalization, with the latter being affected by the geopolitical situation and expectations of the Fed raising the key rate.

Read also:
Please describe the error