Coinbase Q4 Earnings: Revenue Beat, Surprise Profit, Crypto Update And More
Portfolio Pulse from Adam Eckert
Coinbase Global Inc (NASDAQ:COIN) reported Q4 earnings with revenue of $953.79 million, surpassing the consensus estimate of $822.36 million, and a surprise profit of $1.04 per share against an expected loss of 1 cent per share. This marks the fourth consecutive quarter Coinbase has exceeded analyst expectations. Transaction revenue rose 83% QoQ to $529 million, while subscription and services revenue increased 12% QoQ to $375 million. Bitcoin and Ethereum represented significant portions of trading volume and transaction revenues. The company aims to focus on driving revenue, utility in crypto, and regulatory clarity in 2024. Coinbase anticipates Q1 subscription and services revenue between $410 million and $480 million, with $320 million in transaction revenue as of Feb. 13. Shares were up 8.41% after hours at $179.45.

February 15, 2024 | 9:48 pm
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Coinbase reported higher-than-expected Q4 earnings and revenue, marking the fourth consecutive quarter of surpassing analyst estimates. The company also provided a positive outlook for 2024, focusing on revenue growth, crypto utility, and regulatory clarity.
Coinbase's Q4 earnings beat and positive outlook for 2024, especially in driving revenue and regulatory clarity, are likely to boost investor confidence and potentially increase the stock price in the short term.
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