Coinbase Reports Q2 Earnings Below Wall Street Estimates
Coinbase Global (Nasdaq: COIN) reported second-quarter revenue of $1.22 billion, below the expected range of $1.29 to $1.31 billion. The company also recorded a GAAP net loss of $359.5 million for Q2 2026. This follows weak performance in Q1 and reflects declining crypto trading activity amid softer market conditions. The firm reported $146.4 billion in spot trading volume, with adjusted EBITDA at $207.8 million—its 14th consecutive quarter of positive adjusted EBITDA despite challenging macroeconomic factors. Transaction revenue fell by 21% to $599 million while subscription and services revenue remained resilient at $555 million. Looking ahead, Coinbase expects third-quarter subscription and services revenue between $500 million and $580 million but warned against extrapolating early results. The stock dropped over 5% in after-hours trading following the earnings report.
Tickers: $COIN