Coinbase Shares Slip After-Hours as Q1 Revenue, Q2 Outlook Miss Estimates

$Coinbase Global, Inc.(COIN)$   shares slipped in extended trading Thursday after the company reported first quarter revenue that missed analysts estimates and provided an outlook that trailed Bloomberg consensus.

In the first quarter, the company's total revenue rose 24% to $2.03 billion, missing the average analyst estimate of $2.11 billion, Bloomberg consensus show. The company expects second quarter subscription & services revenue to reach between $600 million to $680 million, below the $707.8 million that analysts were expected. 

"Macro uncertainty, including around global trade policy, is impacting consumer sentiment and may contribute to softer crypto trading markets and lower asset prices as we enter the second quarter," the company said. "We are very familiar with operating through uncertainty and are confident in our ability to maintain our long-term product roadmap and remain financially disciplined."

Transaction revenue fell 19% to $1.3 billion in the first quarter from the three months as volume declined as crypto prices declined, tracking losses across the broader market "driven by tariff policy and macroeconomic uncertainty," the company said.

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