<p>Coinbase and Block soared 12% a day after reporting third quarter earnings, outpacing gains by the S&amp;P 500.</p> <p>Coinbase's third-quarter results <a href="https://www.theblock.co/post/182340/coinbase-mtus-beat-estimates-trading-volumes-miss" target="_blank" rel="noopener">showed</a> expenses fell to $1.1 billion from $1.8 billion in the previous period. Trading volumes were lower, but the exchanges subscription and services revenue showed encouraging signs, with a company forecast of $700 million for the full year topping the analyst estimate for $667 million compiled by FactSet.</p> <p>In the third quarter, subscription and services revenue grew to $211 million from $147 million in the second. <br /> <br /> </p> <div id="attachment_183115"class="wp-caption alignnone" style="max-width: 1791px;"><img class="has-caption wp-image-183115 size-full" src="https://www.tbstat.com/wp/uploads/2022/11/COIN_2022-11-04_14-18-44.png" alt="" width="1781" height="1260" /><p class="wp-caption-text"><a href="https://www.tradingview.com/chart/?symbol=NASDAQ%3ACOIN"><span style="font-size: 8pt;"><em>COIN chart by TradingView</em></span></a></p></div> <p>Block shares also jumped after <a href="https://www.theblock.co/post/182791/block-reports-14-7-million-net-loss-in-q3-1-76-billion-in-bitcoin-sales">earnings</a> Thursday revealed total net revenue of $4.52 billion in the third quarter, which beat the $4.49 billion estimate and was up 17% year-over-year. Earnings per share also trounced expectations, coming in at 42 cents versus the 23 cent estimate. <br /> <br /> Excluding bitcoin revenue — $1.76 billion— net revenue was $2.75 billion. The company reported a net loss of $14.7 million for the third quarter. </p> <div id="attachment_183116"class="wp-caption alignnone" style="max-width: 1791px;"><img class="has-caption wp-image-183116 size-full" src="https://www.tbstat.com/wp/uploads/2022/11/SQ_2022-11-04_14-18-52.png" alt="" width="1781" height="1260" /><p class="wp-caption-text"><em><a href="https://www.tradingview.com/chart/?symbol=NYSE%3ASQ"><span style="font-size: 8pt;">SQ chart by TradingView</span></a></em></p></div> <p>Ark Invests Cathie Wood <a href="https://www.theblock.co/post/182530/cathie-wood-ark-invest-block-robinhood-shares">loaded</a> up on both stocks over the past week ahead of earnings. </p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>