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Coinbase shares to open lower after 75% drop in net income in Q3
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Coinbase (COIN) shares have taken a hit after the firm posted a 75% decrease in net income during the third quarter.
COIN closed Nov. 9 with a 0.98% gain at a price of $357.39, however the release of the leading U.S. exchange’s Q3 report after market close has coincided with a dip of around 13.10% (at time of this writing) in after-hours trading.
Coinbase posted revenue of $1.235 billion in Q3 falling well below analyst estimates according to FactSet of $1.614 billion. The firm’s profits totaled
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