WASHINGTON (dpa-AFX) - Coinbase Global Inc. (COIN) on Thursday reported a wider second-quarter loss as softer crypto market conditions weighed on trading activity.
For the second quarter, the company reported a net loss of $359.5 million, or $1.36 per share, compared with net income of $1.43 billion, or $5.14 per share, a year earlier.
Total revenue declined 19% to $1.22 billion from $1.50 billion, while net revenue fell 17% to $1.15 billion.
For the third quarter, Coinbase expects subscription and services revenue of $500 million to $580 million and adjusted expenses of $980 million to $1.08 billion.
For fiscal 2026, the company reduced and narrowed its adjusted expense guidance to $4.20 billion-$4.45 billion, down from its prior outlook of $4.25 billion-$4.60 billion.
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