Coinbase Shares Dip Despite Earnings Beat: Analysts Mixed On Future Prospects

Coinbase Global Inc (NASDAQ:COIN) shares were trading slightly lower on Friday after the company issued earnings on Thursday. The cryptocurrency platform, currently under U.S. regulatory scrutiny, reported a loss of 42 cents per share, which beat the expected 78 cent loss, on revenues of $707.09 million, beating the $643.36 million consensus estimate.

Despite a 13% quarter-over-quarter decrease in transaction revenue at $327.1 million and a 7% drop in subscription revenues from the first quarter at $327 million, the print, along with fresh analyst perspectives, pushed shares nearly 2% higher during early trading on Friday before the stock began selling off.