**Coinbase Q2 Earnings Boost Shares**
Coinbase shares jumped 3.2% after-hours following its Q2 earnings report. The crypto exchange posted $1.4 billion in revenue, with a notable year-on-year increase in trading volumes.
**Key Highlights:**
- Trading volumes hit $266 million, up from last year but down from Q1's $312 billion.
- Subscription and services revenue surged 17% from Q1, nearly doubling from Q2 2023.
- Transaction revenue doubled from Q2 2023 to $780.9 million, though it fell short of Q1.
**Revenue Breakdown:**
- Consumer transaction revenue: $664.8 million (below Zacks' $695 million estimate).
- Institutional transaction revenue: $63.6 million (above Zacks' $55 million estimate).
**Profit and Regulatory Wins:**
- Third consecutive profitable quarter.
- Net income: $36 million.
- Significant regulatory progress in the US, with bipartisan support for crypto legislation.
Despite a 5.2% drop to $212.6 on Aug. 1, shares rebounded 3% post-earnings.