Coinbase Q4 2024 revenue beats forecast by 23% reaching $2.3 billion

Key Takeaways

Coinbase reported a fourth-quarter income of $2.3 billion, surpassing analyst estimates by 23%.
Development was pushed by elevated digital asset costs and adoption of companies like staking and USDC belongings.

Coinbase reported fourth-quarter income of $2.3 billion, exceeding analyst estimates by 23% and marking an 88% enhance from the earlier quarter.

Our This fall and FY 2024 monetary outcomes at the moment are dwell. pic.twitter.com/R5LuW7pwI9

— Coinbase 🛡️ (@coinbase) February 13, 2025

Transaction income surged 172% to $1.6 billion, whereas subscription and companies income grew 15% to $641 million, in keeping with the corporate’s This fall 2024 shareholder letter.

The crypto alternate operator’s efficiency was pushed by rising digital asset costs and elevated adoption of its companies, together with staking, custody, and USDC belongings.

The corporate additionally noticed progress in its Coinbase One subscriber base.

For the complete yr 2024, Coinbase greater than doubled its whole income to $6.6 billion and recorded a internet revenue of $2.6 billion.

The corporate reported $3.3 billion in Adjusted EBITDA and maintained $9.3 billion in USD sources at year-end.

The outcomes mirror heightened buying and selling exercise throughout centralized exchanges in the course of the quarter, coinciding with worth appreciation in Bitcoin and Ethereum.

Coinbase’s strategic initiatives, together with product adoption throughout Base, Coinbase One, Prime Financing, and worldwide enlargement, contributed to income diversification.

Earlier in 2024, Coinbase reported $1.64 billion in Q1 income, surpassing expectations with a major enhance in client transaction income.

In 2024 Q2, Coinbase reported $1.4 billion in income, beating estimates regardless of decrease earnings, reflecting the volatility of the crypto market and the rising significance of regulatory readability for the trade.