Coinbase Glb Q3 EPS $0.28 Misses $0.42 Estimate, Sales $1.21B Miss $1.26B Estimate
Portfolio Pulse from Benzinga Newsdesk
Coinbase Global reported Q3 earnings per share of $0.28, missing the analyst estimate of $0.42. Sales were $1.21 billion, below the expected $1.26 billion. Despite missing estimates, EPS increased significantly from last year's loss, and sales grew by 78.77% year-over-year.
October 30, 2024 | 8:14 pm
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NEGATIVE IMPACT
Coinbase Global's Q3 earnings and sales missed analyst estimates, with EPS at $0.28 vs. $0.42 expected and sales at $1.21B vs. $1.26B expected. However, EPS improved significantly from last year's loss, and sales increased by 78.77% year-over-year.
The earnings and sales figures both missed analyst expectations, which is typically negative for stock prices in the short term. However, the significant year-over-year improvement in EPS and sales may mitigate some negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100