The Coinbase Global Inc logo, the largest U.S. encryption, will be displayed at the Nasdaq Market at Jambbotron and others in New York, USA, Times Square, April 14, 2021.

Shannon Stapleton | Reuters

Coinbase, The largest cryptocurrency exchange in the U.S., missed analysts’ estimates on third-quarter earnings report and earnings after Tuesday’s bell. The stock fell in an extended trade.

Here’s how Coinbase did it compared to analysts ’estimates:

  • Revenues $ 1.62 share
  • Income $ 1.31 billion in joint venture with $ 1.57 billion, according to Refinitiv

Coinbase’s monthly active trading users fell from the previous quarter, falling from 8.8 million to 7.4 million in the second quarter. It increased by 6.1 million a year ago. During the last quarter, sales fell from $ 462 billion to $ 327 billion.

Much of the company’s success depends on the performance of digital assets. bitcoin. on Monday, Bitcoin is at an all-time high $ 68,000, and Eritrea He set a new record of over $ 4,800.

Coinbase held Stock market first It was valued at $ 381 per share in April and up to $ 100 billion in a short period of time, in a completely reduced price. Shares fell below $ 221 in July but rose sharply last month, closing at $ 357.39 on Tuesday.

“As our year-to-day results clearly show, our business is dynamic,” the company said. Letter of shareholder. “Coinbase is not a quarter-to-quarter investment, but a long-term investment in cryptoeconomy growth and our ability to serve our users and services. We encourage our investors to take this view.”

In September, the company Plans to start have been canceled After describing the crypto loan product The SEC plans to sue the product. Also in the quarter, Coinbase announced plans Launch a marketplace to trade indestructible tokens And customers were allowed to Submit payment checks to your account.

FacebookNow known as Meta Platform, I recently hired Coinbase to work on logistics for cryptocurrencies for the new digital wallet.

Correction The previous version of this story used incorrect income numbers.