Coinbase's Q1 revenue was $773 million, a 23% increase compared to the previous quarter.

BlockBeats News, on May 5th, according to the financial report data released by Coinbase, the platform's Q1 2023 revenue was $773 million, exceeding analysts' expectations of $655 million, and an increase of 23% from the previous quarter ($773 million). In addition, Coinbase's Q1 trading volume was $145 billion, slightly lower than analysts' expectations of $147.7 billion and approximately $146 billion in Q4 of last year. After the data was released, Coinbase's stock price rose by about 8% to $53 in after-hours trading on Thursday. Coinbase stated that although it is very concerned about expanding into international markets such as Canada, Brazil, and Singapore, the U.S. business is still its core business. Coinbase's Chief Investment Officer, Anil Gupta, commented on the recent discussion on derivative trading platforms: "Coinbase's goal is to enter the derivatives market to better serve international customers, but it is still too early and is not expected to make a significant contribution to finance in the short term. However, we are very excited about the next few quarters."