Coinbase posts $359.5M loss as shares drop 5% after Q2 miss

Coinbase shares tumbled more than 5% in after-hours trading on July 30, 2026, after the cryptocurrency exchange reported a wider-than-expected loss and its third consecutive quarter missing Wall Street estimates.

The company posted a loss of $359.5 million, or $1.36 per share, for the quarter ended June 30, swinging from a profit of $1.43 billion, or $5.14 per share, a year earlier.

Revenue fell to $1.2 billion from $1.5 billion in the same period. Subscription revenue, a measure of its diversification push, reached $555 million, while transaction revenue stood at $599 million.

Chief Executive Officer Brian Armstrong said in a statement that Coinbase is "no longer a bet just on the price of Bitcoin" and that the company is best-positioned to power financial services updated by crypto.