Coinbase revenue soars by 72% to $1.6 billion, smashing analysts' predictions [Fortune]
Coinbase Global, Inc. - Class A (COIN)
US:NASDAQ Investor Relations:
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Company Research
Source: Fortune
Reported net income for Coinbase was $1.18 billion (or $4.40 per share) and was fueled by a boost in transactions thanks to the wider crypto market's upswing. Consumer transaction revenue doubled from the previous quarter, reaching $935.2 million, and volume was up over 93%, to $56 billion. Meanwhile, institutional trading saw even greater increases, with revenue up 133% from the previous quarter, to $85.4 million, and more than doubling in volume to $256 billion. Bitcoin made up a third of both consumer and institutional transactions. The figures, according to MSNBC , wildly beat analysts' predictions of $1.34 billion in revenue and net income of $1.09 per share. Shares were down slightly in after-hours trading after gaining almost 9% to nearly $229 earlier on Thursday. A year ago, they traded for barely $51. To put the earnings into greater perspective, during the first quarter of last year, the company reported losses of $78.9 million (or 34 cents a share). Moreover, this Q1,
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News
- The Mooch, Andrew Yang, and crypto's tipping point [Yahoo! Finance]Yahoo! Finance
- Bitcoin Breakout: 2 Top Ranked Stocks for the Next Leg Higher [Yahoo! Finance]Yahoo! Finance
- The Mooch, Andrew Yang, and crypto's tipping point [Fortune]Fortune
- Fund Managers Brace for SEC Rejection of Ether-ETF Applications [Yahoo! Finance]Yahoo! Finance
- Fund Managers Brace for SEC Rejection of Ether-ETF Applications [BNN Bloomberg (Canada)]BNN Bloomberg
COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 5/17/24 - Form 4
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- COIN's page on the SEC website