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8/9, 10:23 PM (Source: TeleTrader)
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Coinbase's Q2 net revenue at $803 million

Coinbase Global Inc. announced on Tuesday its revenue in the second quarter of the fiscal year 2022 stood at $803 million, down from $2.03 billion in the same quarter a year earlier. The company's total revenue was $808 million.

Net losses for the Q2 2022 amounted to $1.09 billion, and, according to the report, the result was "heavily impacted by non-cash impairment charges." Net loss income per share attributable to common stockholders in the three months ending June 30 stood at $4.98. Finally, trading volume fell to $217 billion in the second quarter, down from $462 billion a year earlier.

"We are working hard to operate within the $500 million Adjusted EBITDA loss guardrail that we communicated for 2022. Clearly, we are operating through stressed market conditions, but based on the expense management initiatives taken in Q2, we are cautiously optimistic about our ability to operate within this guardrail," reads the report.

Coinbase's shares were down by 1.46% after the report's release to sell for $86.52 at 4:36 pm ET.

Baha Breaking News (BBN) / JG