Coinbase shares drop on billion-dollar loss in second quarter and revenue miss

Coinbase shares dropped in extended trading on Tuesday after the crypto exchange reported a loss of over $1 billion in the second quarter and missed analysts’ estimates for revenue.

Here’s how the company did:

• Earnings: Loss of $4.98 per share, vs. loss of $2.65 per share as expected by analysts, according to Refinitiv.
• Revenue: $808.3 million, vs. $832.2 million as expected by analysts, according to Refinitiv.

Coinbase’s revenue declined nearly…