Coinbase Swings to $719M Q3 Profit as Prediction Markets Top $200M Revenue
COIN is trading near its 52-week low of $139.11 (13% above the low).
Summary
Coinbase posted Q3 2026 net income of $719 million, a sharp reversal from the $359.5 million loss in Q2, though adjusted net income was just $78 million after stripping out $715 million in crypto investment gains. Adjusted EBITDA came in at $333 million, up 60% quarter over quarter and the 15th straight positive quarter. Crypto trading volume market share hit 10.7%, the fourth consecutive quarter of gains, and prediction markets crossed $200 million in annualized revenue with 82% quarterly compound growth since launch. Subscription and services now make up 49% of net revenue, and average USDC held in Coinbase products reached a record $22 billion. The headline profit is largely a mark-to-market artifact; the real story is share gains and revenue diversification holding up through a softer crypto market.
At the time of this announcement, COIN was trading at $157.00 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $42.4B. The 52-week trading range was $139.11 to $361.40. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.