Coinbase shares fall 5% after Q2 miss

• Coinbase reported second-quarter revenue below analyst estimates.
• The company's shares fell about 5% in after-hours trading following the results.
• Coinbase said it remains focused on growing subscriptions, services and global expansion.

Coinbase reported second-quarter revenue below Wall Street estimates, sending its shares down about 5% in after-hours trading.

The results reflected lower trading activity than analysts expected, despite continued interest in digital assets.

Coinbase reported growth in subscription and services revenue, which includes staking, custody and stablecoin-related income.

Following the announcement, the Coinbase share price was down about 5% in after-hours trading.

The company said it will continue investing in new products and international expansion to diversify its business beyond trading fees.

Coinbase has been expanding its global presence while increasing revenue from services that are less dependent on cryptocurrency trading volumes.