Coinbase (COIN) reported first-quarter total revenue of $1.41 billion in its earnings announcement, falling short of market estimates of $1.52 billion. Transaction revenue was $758 million, also missing the estimated $805 million. Subscription and services revenue was $583 million, failing to meet the estimated $619 million despite efforts to reduce reliance on transaction fees. Media explained, "The decline in cryptocurrency prices negatively impacted trading activity and investor sentiment, leading to lower-than-expected performance and revenue." COIN is trading down 4.57% at $184.15 in after-hours trading.
