Coinbase has released its earnings report for Q2 2025, indicating a slight year-over-year revenue increase, though the company fell short of analyst expectations.
Overall Revenue Figures
The company reported revenues of $1.5 billion, a 3.3% increase from the same period last year. However, this figure was below analyst expectations. Earnings per share were $0.12, significantly lower than the anticipated $1.19.
Stablecoin Revenue Fuels Growth
Subscription and services revenue increased by 9% year-over-year to $655.8 million, supported by stablecoin income. Stablecoin revenue alone rose by 12% to $332 million, bolstered by a revenue-sharing agreement with Circle, the issuer of USD Coin (USDC).
Retail Activity Slows Down
Total trading volume reached $237 billion, however, retail trading showed weak results, with trading volume at $43 billion, falling short of forecasts. Nevertheless, institutional trading volume was reported at $194 billion, exceeding expectations.
Looking ahead, Coinbase plans to broaden its consumer offerings, including launching tokenized real-world assets, derivatives, and token sales on its platform.
