Coinbase revenue soars by 72% to $1.6 billion, smashing analysts' predictions [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
US:NASDAQ Investor Relations:
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Company Research
Source: Yahoo! Finance
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
- Top Stock Picks for Week of May 20, 2024 [Yahoo! Finance]Yahoo! Finance
- ‘It's absurd': From Morgan Stanley to the state of Wisconsin, here's who just poured billions into Bitcoin ETFs [Yahoo! Finance]Yahoo! Finance
- This Is (Hopefully) the Last CoinDesk Article to Mention Craig Wright [Yahoo! Finance]Yahoo! Finance
- What to Expect at Consensus 2024: Spotlight on Blockchain Tech [Yahoo! Finance]Yahoo! Finance
- Coinbase adds former Rep. Kendrick Meek as House tees up crypto vote [Yahoo! Finance]Yahoo! Finance
COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 5/20/24 - Form 144
- 5/20/24 - Form 144
- 5/20/24 - Form 144
- COIN's page on the SEC website