markets

Matt Phillips2/12/26

Coinbase posts record stablecoin revenue but falls short of expectations for Q4 sales

Crypto exchange Coinbase is climbing in premarket trading on Friday, up 6.3% at 4:50 a.m. ET, despite Q4 revenue numbers that missed Wall Street expectations and swinging to a net loss for the quarter.

Coinbase reported:

Revenue came in at $1.78 billion vs. the $1.81 billion consensus analyst expectation, per FactSet.
A net loss of $667 million, compared to a $1.3 billion profit for the same quarter last year.
Stablecoin revenue hit a record $364.1 million, up 61% from the same quarter the previous year.
Transaction revenue was $982.7 million vs. a $998 million forecast.
Adjusted earnings per share of $0.66, compared with $3.37 a year earlier.

Earlier Thursday, Coinbase seemingly suffered an outage, saying it was “aware that customers may be unable to buy, sell, transfer on Coinbase.com at this time,” but noting that “your funds are safe.” The company said the issue was resolved just over an hour later.

Coinbase shares — which were added to the S&P 500 last May — have been crushed by the downturn in crypto this year. Through Thursday’s close, the stock was down almost 40% in 2026, as the stock caught a double downgrade on Thursday before the report.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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