Coinbase Shares Tumble as Q3 Revenues Fall Well Short of Estimates

Shares of Coinbase (COIN) were falling around 10% after-hours on Tuesday after the crypto exchange reported its third-quarter revenue came in at just $1.24 billion, versus the consensus analyst estimate of $1.61 billion, according to FactSet. Adjusted earnings per share for the quarter also missed at $1.62 versus expectations of $1.81.

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Coinbase Shares Tumble as Q3 Revenues Fall Well Short of Estimates