Coinbase (COIN) Reports Remarkable Fourth Quarter Results
Coinbase (COIN) has surpassed already robust estimates for its fourth quarter performance, achieving an impressive 138% year-over-year increase in revenue. This growth comes in the wake of a significant bull market in the cryptocurrency sector, spurred by the November election of Donald Trump.
The leading U.S. cryptocurrency exchange reported $2.27 billion in revenue for the fourth quarter, exceeding consensus expectations of $1.84 billion and showing a substantial increase from $1.26 billion in the previous quarter. Adjusted earnings for the three-month period reached $1.3 billion, well above the consensus estimate of $906.9 million.
In terms of trading activity, Coinbase reported a trading volume of $439 billion for the fourth quarter, representing a remarkable 185% increase compared to the same period last year. Additionally, transaction revenue soared to $1.56 billion, marking a 194% year-over-year rise.
CEO Brian Armstrong highlighted the significance of these results in his shareholder letter, stating, “Crypto’s voice was heard loud and clear in the U.S. elections, and the era of regulation via enforcement that has hindered our industry in the U.S. is on its way out. Our ambitious goals for 2025 include driving revenue, enhancing utility, and further scaling our foundations.”
Although shares of Coinbase saw only a modest uptick in after-hours trading, the stock experienced an impressive 8.5% rally during the regular trading session, following the release of robust fourth quarter results from Robinhood earlier in the week.
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