Coinbase Global (NASDAQ:COIN) stock jumped 8.7% in Thursday after-hours trading after the cryptocurrency exchange's subscription and services revenue saw solid sequential growth due to higher interest income, thus the full-year guidance for those sales was lifted.Still, it turned in third-quarter earnings and revenue that fell short of consensus estimates as the company continued to suffer from deteriorating trading volume and a rise in expenses against a backdrop of depressed token prices and worsening macroeconomic conditions.For 2022, the company expects to see monthly transacting users (MTUs) at the top end of its previous outlook of 7.0M-9.0M. Thanks to the rising interest rate environment, subscription and services revenue is expected to be more than $700M in 2022, compared with the prior guidance of over $600M. The exchange also lowered its range for technology & development + general & administrative expenses to around $4.0B from the prior range of $4.0B-4.25B as it continues to better manage costs. Q3 EPS of -$2.43, missing the -$2.38 consensus, dropped from $1.92 at Sept. 30, 2021. Revenue of $590.34M, falling below the $641.9M consensus, dropped from $1.31B in the year-ago quarter. Interest income was $101.78M compared with just $8.39M a year ago. MTUs were 8.5M in Q3, down from 9.0M in Q2 but up from 7.3M in Q3 2021. Trading volume was $159B vs. $217B in Q2 and $327B in Q3 of last year. Operating expenses r...
