(RTTNews) - Thursday, Coinbase Global, Inc. (COIN) announced its first-quarter financial results, reporting a net loss of $394.1 million, or $1.49 a share, compared to a net income of $65.6 million, or $0.24 a share, in the prior year, primarily due to higher operating losses.
Adjusted net loss for the period amounted to $45.6 million compared to earnings of $524.1 million in the previous year.
Revenue fell 31 percent, to $1.413 billion from last year's $2.034 billion.
During the after-hours, COIN is trading at $183.80, down 4.75 percent on the Nasdaq.
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