Coinbase’s profits (currency), disappoint in Wall Street, with a 10 % decrease in trading, amid market turmoil

Coinbase (COIN) shares decreased by approximately 3 % in post -market trading after they recorded a significant decrease in revenue in the first quarter of the year, and lost analysts, as markets were cooled amid economic uncertainty in the United States

Encryption He said Revenue was recorded of $ 2 billion, a decrease of $ 2.27 billion in the fourth quarter and less than the 2.1 billion dollar street estimates. The company also reported $ 0.24 of the stock, and lost the average analyst of $ 1.93, according to FactSet data.

The trading volume decreased by 10 % to 393.1 billion dollars per quarter, and transaction revenues amounted to $ 1.3 billion, or about 19 % lower than the fourth quarter.

“Q1 has witnessed an increase in the average fluctuations of encryption assets with BTC’s arrival to an ever’s rise in January. However, encryption prices fell alongside declines in the broader market driven by the policy of customs tariffs and total economic certainty,” Coinbase wrote in a letter to shareholders.

Analysts at JP Morgan, Barclays and Compass Point had everything Reduce their expectations Before the profit report slowed as the volume of encryption trading since January amid uncertainty about the future of the American economy.

The Robinhood (Hood) trading platform, whose clients focus on retail, often compared to the Coinbase merchant base, in April I mentioned 13 % decrease in transaction -based revenue.

However, the acquisition of Coinbase worth $ 2.9 billion for derivative exchange derivatives, puts it in his position as a new leader in trading global encryption options, overcoming Binance and other competitors. This step determines the way for a new chapter in the derivative markets – one will closely monitor investors.

Read more: Wall Street analysts say that Coinbase’s Deribase’s deal is worth a “legal threat” for peers.

Update (May 8, 20:43 UTC): It adds an additional paragraph at the end and the decrease in the share price.