Coinbase earnings: Wall Street divided on trading rebound after Robinhood crypto revenue sinks 55%
Source: CoinDesk ·
From the source
Coinbase faces a key earnings test as analysts debate the strength of its trading rebound following a sharp drop in Robinhood's crypto revenue. Coinbase Global COIN $158.31 reports third-quarter earnings after the market close on Thursday, with analysts looking for signs that crypto trading is recovering after a difficult stretch for the industry. Trading activity picked up in September after hitting multiyear lows in June, fueled by a rebound in crypto prices. Analysts disagree on how much that recovery helped the crypto exchange and whether it will last. The uncertainty comes after Robinhood Markets HOOD $90.49 reported a 55% drop in crypto transaction revenue as crypto trading volume fell 38% in the period. Revenue from options and equities trading, in contrast, climbed while prediction markets brought in $173 million, more than six times the year-earlier figure. That split matters for Coinbase, which still gets a large share of its revenue from customers buying and selling…