Should You Buy Coinbase Stock After the Recent Earnings Pop?
In this video I will be going over Coinbase's (NASDAQ: COIN) Q2 earnings report as well as some risks everyone needs to be aware of. You can find the video below.
Coinbase reported earnings per share of $6.42, beating expectations of $2.57, and revenue of $2.23 billion, beating expectations of $1.83 billion. Net income was $1.6 billion and adjusted EBITDA was $1.1 billion. The company said it now has over 9,000 financial institutions using Coinbase, and retail monthly transacting users (MTUs) stood at 8.8 million, up 44% quarter over quarter, while "verified users" on the platform were 68 million.
As for guidance, Coinbase expects retail MTUs and total trading volume to be lower in Q3 because of the uncertainty in the market, and volatility might go down as more people go on vacation and trade less. For the full year, the company envisioned three possible scenarios: high (average MTUs of 8.0 million), mid (average MTUs of 7.0 million), and low (average MTUs of 5.5 million).
Source Fool.com
