The net loss of the Coinbase crypto exchange has decreased

The figure for the second quarter of this year reached $97 million. This amounts to $0.42 per share. The indicator turned out to be better than the predicted results from experts. At the same time, after the securities trading session also fell by 1%.

A few numbers

Initially, the quotes showed growth. It was more than 9%. Starting in 2023. The shares of the crypto exchange rose in value by more than 156%.

Last year, the same period showed net losses of $1.1 billion. For the first quarter of this year, the amount reached a little less than $ 79 million. The negative dynamics has been going on for six quarters.

Cost-cutting measures helped to reduce the negative financial result. For example, total operating expenses fell by 47.6%. Previously, they amounted to almost $ 1.5 billion, but now they reach $ 773 million. optimization of financial investments and dismissal of employees helped the exchange in this.

However, net revenue for the second quarter also fell compared to last year's figures. It reached slightly less than $708 million against more than $808 million last year.

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