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Coinbase stock rises as Q1 results beat, but company warns bank disruptions are rattling crypto

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Coinbase reported a first-quarter net loss of $78.9 million, or 34 cents a share, compared with $429.7 million, or $1.98 a share, in the same quarter last year. $COIN rose in extended trading Thursday after the quarterly results topped expectations:

Shares of Coinbase Global Inc. rose in extended trading Thursday after the cryptocurrency exchange reported first-quarter results that topped expectations, although the company warned of lower subscription and services revenue and said that the current tremors in the banking industry made for a “volatile” backdrop.

The company reported a first-quarter net loss of $78.9 million, or 34 cents a share, compared with $429.7 million, or $1.98 a share, in the same quarter last year. Revenue fell to $772.5 million, compared with...

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