Coinbase stock drops 4% after surprise 1Q miss as crypto trading slows
Key takeaways
- The crypto platform missed earnings and revenue estimates as falling digital asset prices weighed on trading activity and investor sentiment.By Helene Braun May 7, 2026, 8:51 p.m.
- The company posted a loss of $1.49 per share, compared with analyst expectations for a 27-cent profit.
- Transaction revenue totaled $755.8 million, missing analyst expectations of $805.2 million.
The crypto platform missed earnings and revenue estimates as falling digital asset prices weighed on trading activity and investor sentiment.By Helene Braun May 7, 2026, 8:51 p.m. 2 min read Make preferred on What to know: Coinbase shares fell about 4% in after-hours trading after the company posted a surprise first-quarter loss and missed Wall Street revenue estimates.Weaker crypto markets dragged down Coinbase’s core trading business, with both transaction and subscription-and-services revenue coming in below analyst expectations.Even as it cuts roughly 14% of its workforce, Coinbase is leaning on growth in derivatives, prediction markets and stablecoin activity to reduce its reliance on volatile trading fees.Coinbase (COIN) shares fell about 4% in after-hours trading Thursday after the crypto platform reported weaker-than-expected first-quarter results as falling crypto prices weighed on trading activity, one of the company’s main sources of revenue.
The company posted a loss of $1.49 per share, compared with analyst expectations for a 27-cent profit. Revenue came in at $1.41 billion, below estimates of $1.52 billion.
Transaction revenue totaled $755.8 million, missing analyst expectations of $805.2 million. Subscription and services revenue, a segment investors closely watch as Coinbase tries to reduce its reliance on trading fees, totaled $583.5 million, below expectations of $619.3 million.