Coinbase reported net income of $719 million in the third quarter, or $2.51 per diluted share, while analysts had expected a loss of $0.15 per share. About $715 million of the profit came from gains on cryptocurrencies the platform holds as an investment. Adjusted net income totaled $78 million, while revenue of $1.22 billion was flat from the previous quarter and down 35% year over year. Prediction markets surpassed $200 million in annualized revenue, while subscriptions and services generated nearly half of net revenue, including $307 million from stablecoins. The platform also lowered its adjusted expense guidance for 2026 by $100 million, to a midpoint range of $4.15 billion to $4.3 billion.
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