Coinbase shares fall after first-quarter revenue misses Wall

Street estimate

Coinbase shares fell after the company missed Wall Street's revenue estimate for the first quarter. The crypto exchange giant's trading revenues dropped 19% from the previous quarter due to challenges in the crypto market. Coinbase's total revenue fell to $1.17 billion in the first quarter of 2022, down from $1.80 billion in the same quarter the previous year. The company's shares plummeted 9.16% in after-hours trading, closing at $63.83 .

Here's a breakdown of Coinbase's performance .

Revenue: $1.17 billion, down 35% from the same quarter last year

Trading Volume: $309 billion, down from $547 billion in the last quarter

Monthly Transacting Users: 9.2 million, down 19% from the last quarter

Despite the current challenges, Coinbase remains focused on long-term growth, exploring opportunities beyond trading and investing in the future of crypto .$SOL #CryptoComeback