On this illustration of the photo, the Coinbase logo is shown on a smartphone with percentages on the background stock market.
Omar Marques | Sopa pictures | Lightrocket | Getty Images
Coin Thursday reported better than expected The results of the fourth quarter And his biggest quarterly revenue in three years, reinforced by an angry procedure after the election, which pushed the crypto price to a new maximum after the new maximum late last year.
The shares rose by 2% in extended trading.
Here’s what the company reported in the fourth quarter compared to what Wall Street expected, according to an research by LSEG analyst:
- Earnings per share: $ 4,68 in terms of $ 1,81
- Income: Expected $ 2.27 billion in terms of $ 1.88 billion
Coinbase, which manages the largest American market to buy and sell cryptocurrencies, has reported a net revenue of $ 1.3 billion, or $ 4.68 per share, compared to $ 273 million, or $ 1.04 per share, in the same period a year ago.
He also announced a $ 2.3 billion revenue, compared to $ 953.8 million in the same period a year ago. The transaction revenue has doubled from last year to $ 1.56 billion and beat analysts of analysts in the amount of $ 1.29 billion, Streetaccount said.
The total trading volume was $ 439 billion, which is more than 185% compared to one year. Consumer trading amount increased 224% in the same period a year ago, while the volume of institutional trading increased by 176%.
“Most Y/Y Growth in the volume of trading have encouraged the higher level of volatility of the crypto assets – especially in Q1 and Q4 – as well as the higher average cryptocurrency prices,” the shareholder letter said. “Two major factors that supported these stronger macroeconomic factors were launching Bitcoin ETF products in Q1’24, and the election of the president and congress in Q4’24 and the associated expectation .
Coinbase reported that he had earned $ 750 million in revenue from trading by February 11, and is expected to be in teenage teenagers as a percentage of net income revenue. The company struggled to diversify its revenue from trading. Since the fourth quarter, trading makes 68.5% of total revenue – and most come from the retailer.
Revenues from its subscription and services business – which includes Stablecoins, investment, custody and its Coinbase One product – it is expected to be between $ 685 and $ 765 million for the current quarter.
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