Coinbase reports Q2 EPS (42c) vs. ($4.98) last year

Reported Q2 revenue $707.9M vs. $808.3M yesterday. Reported adjusted EBITDA $194M vs. ($151M) last year. “We are building a sustainable business to drive long-term growth; in Q2, our continued financial discipline resulted in $97 million of Net Loss and positive $194 million of Adjusted EBITDA,” the company said. “Total revenue was $708 million, down 8% Q/Q, and net revenue was $663 million, down 10% Q/Q. Transaction revenue performance underlying these results reflects multi-year lows in crypto volatility. Recurring operating expenses collectively declined 1% Q/Q to $664 million and were lower than our outlook range, driven by our continued focus on expense management. Net loss was $97 million and Adjusted EBITDA was $194 million. Our balance sheet strengthened to $5.5 billion in $USD resources which increased $156 million Q/Q.”