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  • Blockchain Timeline

Apple and Coinbase beat earnings expectations for first quarter

Apple shares rose on Tuesday after the company reported a smaller than expected revenue drop for Q1. Revenue was $90.75 billion compared to $90.30 expected. Sales of the iPhone were down 10% YoY coming at $46 billion while sales in China fell 8.42%. Coinbase reported revenue of $1.64 billion for Q1 compared to $1.34 expected by analysts. Earnings per share were at $4.40 compared to a loss of $0.34 a year ago. The firm also reported over 100% increase in consumer transaction revenue and 3x increase in total transaction revenue. The Coinbase stock rose 8.90% during trading hours but is down 3.30% following the earnings report.

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