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Update: Coinbase Global Shares Fall After Q2 Miss

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(Updates with the latest stock price movement in the headline and the first paragraph.)

Coinbase Global (COIN) shares fell 8.4% on Friday, a day after the company reported lower-than-expected Q2 results.

The company reported a Q2 loss late Thursday of $1.36 per diluted share, swinging from earnings of $5.14 a year earlier.

Analysts polled by FactSet expected a loss of $0.44.

Revenue for the three months ended June 30 was $1.22 billion, down from $1.50 billion a year earlier.

Analysts expected $1.29 billion.

Price: $150.87, Change: $-12.71, Percent Change: -7.77%

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