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Coinbase Q1 Profit Drops Despite Revenue Gains as Expenses Surge 51%

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Coinbase reported a decline in first-quarter profit on Thursday, as a sharp 51% increase in operating expenses outpaced gains in its core revenue streams, leading to a 3% drop in shares during extended trading.

While the cryptocurrency exchange saw total revenue climb to $2.03 billion, up from $1.64 billion a year earlier, it fell short of analysts’ expectations of $2.1 billion, according to data from LSEG.

The company’s adjusted net income dropped to $526.6 million, or $1.94 per share, down from $679.2 million, or $2.53 per share, in the same quarter last year. The decline comes as Coinbase ramps up marketing spending and took a hit on crypto assets held for operations, contributing to its ballooning expense total of $1.3 billion.

Revenue Breakdown:

  • Transaction revenue: Rose 17.3% to $1.26 billion

  • Subscription and services revenue: Jumped 37% to $698.1 million

Despite the solid performance in its transaction and subscription units, the company struggled to maintain profitability amid higher spending and broader market volatility triggered by President Trump’s erratic trade policies, which have unsettled investors and driven caution in riskier assets like cryptocurrencies.

The results come on the same day Coinbase announced a $2.9 billion acquisition of Deribit, a major crypto derivatives exchange, as part of a strategy to expand into the crypto options market and diversify revenue sources beyond spot trading.

The combination of increased costs and geopolitical uncertainty underscores the challenges Coinbase faces in balancing growth investments with margin pressure as it seeks to capitalize on expanding institutional interest in digital assets.

Trimble Surpasses Q1 Revenue Estimates on Strong Product Demand Across Key Sectors

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Trimble Inc. (TRMB.O) beat Wall Street’s first-quarter revenue expectations, reporting $840.6 million in revenue—ahead of analysts’ forecast of $810.9 million, according to LSEG data. The solid performance was driven by sustained demand for the company’s navigation equipment, mapping tools, and software services, despite global economic uncertainty.

The company, whose solutions support industries such as agriculture, architecture, transportation, and design, continues to benefit from integrating artificial intelligence (AI) and machine learning into its products, enhancing their value and appeal to enterprise customers.

Trimble CEO Rob Painter acknowledged the challenging macroeconomic climate, including pressure from U.S. President Donald Trump’s newly imposed import tariffs, which are expected to raise the cost of consumer goods and dampen spending. Despite these headwinds, Painter said the company would maintain its full-year 2025 guidance.

Trimble posted adjusted earnings of 61 cents per share, exceeding the 59 cents forecasted by analysts. For the second quarter, the company expects revenue between $815 million and $845 million, with analysts anticipating $826.5 million.

The earnings report reflects continued strength in Trimble’s core sectors and its ability to weather market volatility through technological innovation and diversified demand.