Coinbase Global (COIN) reported Q1 adjusted earnings late Thursday of $1.94 per diluted share, down from $2.53 a year earlier.
Analysts surveyed by FactSet expected $2.30.
Revenue in the three months ended March 31 rose to $2.03 billion from $1.64 billion a year earlier.
Analysts polled by FactSet expected $2.10 billion.
The company's shares fell 2.4% in after-hours trading.