Coinbase Q3 earnings report: revenue approximately $1.216 billion, down 35% year-over-year; adjusted EBITDA approximately $333 million.

BlockBeats news, October 30: Coinbase released its Q3 2026 earnings report, with total revenue of approximately $1.216 billion, down 35% year-over-year, including transaction revenue of approximately $590 million and subscription and services revenue of approximately $570 million. Net income was approximately $719 million, with diluted earnings per share of $2.51, up from approximately $433 million in the same period last year. Adjusted EBITDA was approximately $333 million, down from approximately $801 million in the same period last year.

The company said the revenue decline was mainly dragged down by a roughly 59% drop in consumer spot trading volume and a roughly 53% drop in institutional spot trading volume, partially offset by growth in derivatives business following the acquisition of Deribit. Net income benefited from approximately $715 million in gains on investment crypto assets. Operating expenses decreased approximately 17% year-over-year to approximately $1.15 billion, reflecting the restructuring announced in May involving roughly 700 layoffs and related declines in marketing spending. During the same period, the platform's prediction market annualized revenue has exceeded $200 million, and average USDC holdings on the platform were approximately $22 billion, hitting another all-time high.

According to data from the BIT stock platform, Coinbase (COIN) closed down 1.07%, and fell another 4.65% after hours.