Coinbase expects current-quarter subscription and services revenue to be between US$530 million and US$600 million. In July, the company generated approximately US$210 million of total transaction revenue, Coinbase said in a shareholder letter.
Coinbase Global Inc. posted a profit and revenue doubled as this year’s cryptocurrency recovery carried into the second quarter.
The biggest US crypto exchange’s revenue jumped to US$1.45 billion ($1.94 billion), slightly above the forecast of analysts surveyed by Bloomberg. Net income was US$36 million, or 14 US cents a share, after taking in account an impairment charge to writedown the value of cryptocurrencies held in its investment portfolio. It reported a loss in the year-ago period.
