Coinbase and Robinhood Earnings Drop Impacts Stock Performance
Coinbase and Robinhood Earnings Report
In Q3, which concluded on Sept. 30, Coinbase announced adjusted earnings per share of 28 cents, a rise from a loss of one cent per share previously. Despite this optimistic figure, the performance fell short of analysts' expectations. Revenue for the quarter stood at $1.21 billion, highlighting the ongoing challenges in the crypto trading landscape.
Market Reactions and Future Implications
On the other hand, Robinhood also reported disappointing earnings, further contributing to investor apprehension. The shares of both companies plummeted, signaling a potential shift in investor confidence within the cryptocurrency sector.
- Coinbase misses earnings estimates.
- Robinhood shares drop post-earnings.
- Investors react negatively to financial results.
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