<ul><li>Coinbase reported Q1 revenue below expectations with a 19% drop in transaction revenue, leading to a nearly 3% decline in its shares in late trading.</li><li>Quarter ended March 31 showed mixed results for Coinbase with adjusted earnings per share at $1.94 and revenue at $2.04 billion, missing analyst expectations.</li><li>Transactional revenue decreased by 19% to $1.26 billion, while subscription and services revenue saw a healthy 9% quarter-over-quarter growth to $698 million.</li><li>For Q2, Coinbase projects subscription and services revenue to range from $600 million to $680 million, with transaction expenses expected to be in the mid-teens as a percentage of net revenue.</li></ul>

Coinbase reports Q1 revenue below expectations with 19% drop in transaction revenue

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