Key Takeaways COIN Q2 EPS fell 88.8% Y/Y to $0.12, missing estimates by nearly 90% despite volume and price gains.Total revenues rose 3.2% Y/Y on higher subscription, service and other income despite lower transactions.Expenses surged 37.5% Y/Y to $1.5B, weighing on adjusted EBITDA, which dipped 3.2% to $512M.Coinbase Global, Inc. (COIN) reported second-quarter 2025 net operating earnings per share of 12 cents, which missed the Zacks Consensus Estimate by 89.9%. The bottom line decreased 88.8% year over yea ...

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About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Core Viewpoint - Coinbase Global Inc reported disappointing second-quarter earnings, leading to a decline in its stock price amid a busy earnings season [1] Group 1: Earnings Performance - Coinbase's revenues contracted 26% sequentially to $1.497 billion, while adjusted EBITDA declined by 45% to $512 million [2] - The company's earnings per share, excluding one-time items, were $1.45, missing the consensus estimate of $1.52 [4] - Total revenues of $1.50 billion missed consensus by 6%, although transaction revenues were slightly higher than estimates [11] Group 2: Market Position and Volumes - Industry trading volumes declined 26% sequentially, while Coinbase's volumes were down 40%, indicating a loss of market share [3] - The company highlighted a favorable macro backdrop for crypto markets, with July trading revenue of $360 million suggesting a run rate higher than expectations for the third quarter [5][12] Group 3: Analyst Ratings and Price Targets - JPMorgan maintained a Neutral rating and reduced the price target from $404 to $342 [2] - Goldman Sachs reaffirmed a Neutral rating but raised the price target from $305 to $348 [4] - Needham reiterated a Buy rating and raised the price target from $270 to $400, citing product expansion and opportunities within USDC [6] - Canaccord Genuity maintained a Buy rating with a price target of $400 [8] - Rosenblatt Securities reiterated a Buy rating and set a price target of $470 [11] Group 4: Future Outlook - Analysts expressed concerns about the growth in general and administrative expenses and technology development costs, but noted a strong recovery in crypto volumes in July [7] - The company is seen as a preferred partner for traditional finance players looking to enter the crypto space, supported by an improving regulatory landscape [9][10]

Market Overview - The MSCI global index has fallen for six consecutive days, marking the longest losing streak since September 2023, amid concerns over economic and inflation impacts from Trump's global tax measures [1] - U.S. stock markets have seen significant declines, with the Nasdaq down over 2.3%, S&P 500 down over 1.7%, and Dow Jones down over 1.5% [1][13] - European stocks also experienced collective declines, with the German DAX down over 2.7%, UK FTSE down over 1%, and French CAC down over 3% [2][14] Employment Data Impact - U.S. non-farm payrolls increased by 73,000 in July, falling short of the expected 110,000, indicating a shift towards slower growth in the labor market [1] - The unemployment rate remained steady at 4.2%, aligning with expectations [1] Federal Reserve and Interest Rate Expectations - The market is pricing in two rate cuts by the Federal Reserve this year, with a 76% probability of a cut in September [1][10] - Analysts suggest that the weak employment report may prompt the Fed to consider restarting rate cuts, with some predicting a potential 50 basis point cut [7][9] Currency and Commodity Movements - The U.S. dollar index fell over 1.3%, while non-U.S. currencies appreciated, with the euro rising approximately 1.5% against the dollar [1][2] - Gold prices surged over 1.8%, reaching above $3,350, while silver also turned positive [5] Sector-Specific Reactions - The semiconductor index dropped by 3.13%, and bank indices fell by 3.68%, reflecting broader market fears [1] - Pharmaceutical stocks led declines in Europe, influenced by Trump's call for lower drug prices from companies like Novo Nordisk and AstraZeneca [2][14] Trade Policy Uncertainty - Trump's new tariff measures, which range from 10% to 41%, have created significant uncertainty in the market, making it difficult for businesses and investors to plan ahead [11][12] - Analysts predict that if these tariffs are implemented, the average tariff rate on U.S. goods could rise to 15.2%, significantly higher than the previous rate of 13.3% [12]

Group 1: Coinbase Global Inc (NASDAQ:COIN) - Coinbase shares fell 15.5% to $319.31 after second-quarter earnings of 12 cents per share and revenue of $1.5 billion missed estimates [1] - The company provided a disappointing third-quarter subscription and services revenue outlook, leading to price target cuts from at least four analysts, including J.P. Morgan Securities, which lowered its target to $432 from $404 [1] - Despite the drop, Coinbase is up 28.2% year-to-date, although it has moved away from its July 18 record high of $444.64 and is trading at its lowest levels since late June [2] Group 2: MicroStrategy Inc (NASDAQ:MSTR) - MicroStrategy shares decreased by 6.3% to $376.39, despite reporting a significant second-quarter profit and two price-target hikes [3] - The company posted earnings of $32.60 per share, a turnaround from a loss of 57 cents in the same quarter last year, with operating income rising to $14.03 billion [3] - Since reaching a peak of $457.22 on July 16, MSTR has been declining, with potential support at the $360 level and the 100-day moving average at $366; the stock is up 31.9% year-to-date [4]

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Reminder: Join us at 10AM PT for a live community Q&A.Coinbase 🛡️ (@coinbase):We'll be hosting a Q&A following our Q2 financial results this week.Live on 𝕏, on August 1 at 10AM PT.Got questions for @brian_armstrong and Alesia Haas? Comment below. https://t.co/mFGFr2lZAg ...

Core Viewpoint - Coinbase reported a significant decline in quarterly profit, leading to a sharp drop in its stock price, primarily due to reduced trading activity in the crypto market [1][4][5]. Financial Performance - Adjusted net income for the quarter was $33 million, or 12 cents per share, down 89% from $294 million, or $1.10 per share, in the same quarter last year [5]. - Total revenue was $1.5 billion, which fell short of Wall Street's expectations of $1.59 billion [5]. - Consumer spot trading volume decreased by 45% to $43 billion, while consumer trading revenue dropped 41% to $650 million [4][5]. Market Reaction - Following the earnings report, COIN shares were trading at $320.93, reflecting a 15.04% decline [3]. - The earnings miss was substantial, with a 92% shortfall compared to the expected earnings of $1.51 per share [5]. Positive Aspects - Revenue from the subscription and services unit increased by 9.5% to $656 million, driven by stablecoin-related activities [6]. - Stablecoin revenue rose to $332.5 million in the second quarter, up from $240.4 million a year earlier, aided by new legislation [6]. Analyst Outlook - Citizens JMP maintained a price target of $440 for COIN, suggesting a potential 36% upside from current levels despite the poor results [7]. - TipRanks indicates an average target price of $383.29 for COIN over the next 12 months, with the most optimistic analysts predicting a price of $510.00 [10].

Bernstein says Q2 is the 'quarter that doesn't matter' for Coinbase as stock tumbles 15% post-earnings https://t.co/KZ7PTVercF ...