Coinbase Global, Inc. Surpasses Q4 Earnings And Revenue Estimates

$COIN

Coinbase Global, Inc. (NASDAQ:COIN) has once again demonstrated its robust financial performance by surpassing Wall Street’s earnings and revenue estimates for the fourth quarter of 2024. The cryptocurrency exchange reported earnings of $3.39 per share, significantly exceeding the Zacks Consensus Estimate of $1.94 per share.This performance marks a substantial increase from the previous year’s earnings of $1.04 per share, showcasing a year-over-year growth of 225%.

The company’s revenue for the quarter was equally impressive, totaling $2.27 billion, which not only represents a 138.2% increase from the year-ago quarter..It is attributed to heightened trading volumes and increased participation in the cryptocurrency marketCoinbase’s trading volume for the quarter stood at an $439 billion.

This includes a substantial portion from institutional traders, who contributed $345 billion. The consumer trading volume also saw a significant rise, reaching $94 billion. The breakdown of net revenue reveals that transaction revenue was the largest contributor, totaling $1.56 billion, a 194% increase from the previous year.
Subscription and services followed marked a 70.8% increase year-over-year. Other notable increases include blockchain services revenue, which surged by 126% to $214.90 million.

Looking ahead to the first quarter of 2025, Coinbase anticipates transaction revenue to approximate $750 million by February 11, with subscription and services revenue projected to be between $685 million and $765 million. The company’s focus on diversifying its revenue streams beyond mere transaction fees is paying dividends, as evidenced by the growth in subscription and services revenue.

Coinbase Global, Inc. has clearly had a stellar quarter, with significant increases in both earnings and revenue, driven by substantial trading volumes and effective strategic initiatives. The company continues to innovate and expand its offerings, it remains a prominent player in the cryptocurrency exchange industry, poised for d growth in the evolving digital asset landscape.

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