Coinbase Q2 Earnings Miss Wall Street Estimates
Coinbase Global (COIN) reported second-quarter 2026 earnings on July 30 with $1.22 billion in revenue, below the expected range of $1.29 to $1.31 billion. The company posted a GAAP loss of $1.36 per share compared to an estimated $0.15 per share. This follows weak performance from Q1 and reflects declining crypto trading activity amid softer market conditions. Coinbase reported $146.4 billion in crypto spot trading volume, missing analyst estimates but still maintaining 14 consecutive quarters of positive adjusted EBITDA at $207.8 million. The company cited reduced volatility and lower blockchain rewards as key factors affecting performance. Subscription and services revenue remained resilient at $555 million or nearly half of total net revenue. Looking ahead, Coinbase expects third-quarter subscription and services revenue between $500 million to $580 million but warned against extrapolating early results. Following the earnings miss, COIN stock dropped more than 5% in after-hours trading.
