Coinbase Global (NASDAQ:COIN) reported first-quarter financial results Thursday after market close.

Here are the highlights.

Coinbase Q1 Financials

Coinbase reported first-quarter revenue of $1.41 billion, down 31% year-over-year. The revenue total missed a Street consensus estimate of $1.53 billion, according to data from Benzinga Pro.

Transaction revenue was $756 million in the first quarter, down 40% year-over-year. Subscription and Services revenue was $584 million in the quarter, down 14% year-over-year.

The company reported an adjusted loss of 17 cents per share, missing a Street consensus estimate of 29 cents per share.

Prediction markets are called out by the company as one of the…

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