Odaily Planet Daily News Analysts predict that Coinbase (COIN)'s second-quarter earnings report may be better than expected, but regulatory risks and the threat of declining transaction volume will continue to exist. Coinbase will report its second-quarter 2023 earnings after the market closes on Thursday.
The FactSet consensus expects Coinbase’s revenue to fall to $629 million from $773 million in the previous quarter. Transactions in the quarter ended June 30 are expected to fall to $114 billion from $145 billion in the first quarter. Earnings per share are expected to be a loss of $0.76, compared with a loss of $0.34 in the first quarter.
"We expect adjusted EBITDA to come in well ahead of expectations," Barclays analysts wrote in a note on Tuesday.
Berenberg analyst Mark Palmer also warned of risks from the USDC stablecoin, which generated $199 million in interest income in the first quarter, accounting for 27% of Coinbase's Q1 net income. (CoinDesk)