Business & Finance · Companies · 3 outlets (L 0 · C 2 · R 0 · 1 not rated)
Coinbase returns to profit as revenue falls 35%
Coinbase returned to profitability for the first time in a year while posting a quarterly revenue decline, according to Bloomberg.[1] The Information reported third-quarter revenue of $1.2 billion, down 35% from a year ago and roughly flat from the second quarter, as crypto trading activity cooled.[3] Net income was $719 million, per The Information.[3]
CNBC reported net income surged 66% in the quarter, largely due to a recovery in the cryptocurrency market and bitcoin investment gains.[2] Coinbase's prediction markets business surpassed $200 million in annualized revenue, The Information reported.[3]
Why it matters Coinbase's fortunes remain closely tied to crypto markets, with trading activity cooling even as the company returned to profitability.[1, 3]
Covered by Bloomberg, The Information and CNBC
Read first Coinbase Returns to Profitability While Posting Another Revenue Drop
Where accounts differ (1)
- Facts differCNBC reported net income surged 66% in the third quarter, while The Information reported net income of $719 million without stating a percentage change.[2, 3]
- The Information · Not rated · Oct 29, 5:23 p.m. ET Coinbase Revenue Fell 35%, Partially Offset by Prediction Market
Coinbase reported third-quarter revenue of $1.2 billion, down 35% from a year ago and roughly flat from its revenues in the second quarter, as trading activity in the broader crypto market cooled. Its prediction markets…
- CNBC · Center · Oct 29, 5:38 p.m. ET Coinbase net income surges 66% in third quarter, benefiting from bitcoin investment gains
Coinbase posted better-than-expected earnings in the third quarter, largely due to a recovery in the cryptocurrency market.
- The Information · Not rated · Oct 29, 5:23 p.m. ET Coinbase Revenue Fell 35%, Partially Offset by Prediction Market
How balanced is this coverage?
Of the 2 rated outlets that covered it, 0 are left of center, 2 are center and 0 are right of center. 1 more is not rated.
Too few left- or right-leaning outlets to compare: 0 of 42 left-leaning, 2 of 33 center and 0 of 38 right-leaning outlets covered it.
- Left: none.
- Leans left: none.
- Center: Bloomberg (+0.08), CNBC (+0.40).
- Leans right: none.
- Right: none.
Not rated The Information. Not placed: they have no lean score.
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