Cryptocurrency exchange Coinbase has announced its earnings reports for the first quarter of 2023.
According to published reports, the stock market gained more in the last quarter of 2022. With this statement, the company surpassed analyst forecasts.
Coinbase Earns More Compared to Last Quarter 2022
Coinbase has announced its earnings reports for the first quarter of this year. According to the announced reports, the stock market made more profit in the last quarter of last year. The company posted 23 percent more earnings in Q4 2022. The company’s first quarter profit reached $773 million.
Commentators predicted that Coinbase’s profits would fall. On the other hand, the cryptocurrency exchange made a profit above the last quarter profit of last year.
Crypto exchange Coinbase reported first-quarter revenue of $773 million, beating analyst estimates by $655 million, up from Q4 revenue of $605 million, according to FactSet.
Trading volume came in at $145 billion against analyst estimates of $147.7 million for the quarter. Trading volume in the fourth quarter was roughly $146 billion.
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