Coinbase beats Q4 estimates as transaction revenue rises to $529 million

Coinbase exceeded analysts’ expectations by reporting fourth-quarter revenue of $953.8 million, a 41% increase from the previous quarter. This surge in revenue also marked a 50% increase compared to the same period the previous year. Analysts, who had predicted quarterly revenue of $826.1 million, were pleasantly surprised by these figures. Coinbase attributed its success to operational rigor, launching innovative products, and strengthening its competitive position. The company also reported a net income of $273 million for the quarter, a significant improvement from the $557 million loss in the same period last year. Following the announcement, Coinbase’s shares increased by over 6% in after-hours trading. Notably, Coinbase’s transaction revenue soared to $529.3 million, up from $288.6 million in the third quarter. This was attributed to heightened levels of volatility and crypto asset prices, influenced by factors such as Bitcoin spot ETF approvals and improving macroeconomic conditions in 2024.