8/1020 sources · 6 publishersUpdated Oct 29, 23:55 UTC
Coinbase returns to profit as trading revenue weakens
Coinbase Global returned to profit in Q3, reporting net income of $718.7M after three loss-making quarters. Total revenue was $1.22B, down from $1.87B a year earlier, while transaction revenue fell to $590M. Prediction markets exceeded $200M in annualized revenue and helped diversify the business as crypto trading activity weakened.
Why it matters
The results show a sharp contrast between weaker core trading revenue and growth in newer businesses such as prediction markets. Coinbase narrowed its 2026 adjusted expense outlook, which mechanically lowers the expected cost range for the year.
Key facts
- 1Q3 GAAP EPS was $2.51 versus an average analyst estimate of -$0.10. tradingview.com
- 2Q3 total revenue was $1.22B, compared with $1.23B consensus. tradingview.com
- 3Q3 transaction revenue was $590M, down from $599M in Q2 and $1.05B in the previous year's Q2. tradingview.com
- 4Crypto trading market share rose to 10.7%, while prediction markets surpassed $200M in annualized revenue in September. tradingview.com
- 5Coinbase narrowed 2026 adjusted expense guidance to $4.150B-$4.300B from $4.200B-$4.450B. tradingview.com
Open questions
- report Q3 revenue or net revenue of $1.16B, while reports total revenue of $1.22B; the materials do not consistently identify whether these figures use different revenue bases.
Summary written by AlphAI AI Desk from 20 of 20 sources. Not investment advice. Figures are as stated by the linked sources.