For the quarter ended September 2024, Coinbase Global, Inc. (COIN) reported revenue of $1.21 billion, up 78.8% over the same period last year. EPS came in at $0.62, compared to -$0.01 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.27 billion, representing a surprise of -5.24%. The company delivered an EPS surprise of +51.22%, with the consensus EPS estimate being $0.41.While investors scrutinize revenue and earnings changes year-over-year and how they compare wit ...

Coinbase Global, Inc. (COIN) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 51.22%. A quarter ago, it was expected that this company would post earnings of $1.07 per share when it actually produced earnings of $1.07, delivering no surprise.Over the last four quarters, the company has sur ...

Cryptocurrency platform company Coinbase Global COIN reported third-quarter financial results after the market close Wednesday. Here are the key highlights. What Happened: Coinbase reported third-quarter revenue of $1.21 billion, which missed a Street consensus estimate of $1.26 billion, according to data from Benzinga Pro. The company reported earnings of 28 cents per share, which missed a Street consensus estimate of 42 cents per share. Coinbase's third quarter marked a seventh consecutive quarter of posi ...

Monitors display Coinbase signage during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, on Wednesday, April 14, 2021. Coinbase Wednesday reported weaker-than-expected third-quarter results, weighed down by muted trading in the cryptocurrency market.The stock fell more than 4% in extended trading.Here's what the company reported for the third quarter compared with what Wall Street expected, according to a survey of analysts by LSEG:Earnings per share: 28 cents vs. 41 cents ...

Revenue and Net Income - Net revenue for the three and nine months ended September 30, 2024 was $1.1 billion and $4.1 billion, respectively, with net income of $75.5 million and $1.3 billion[159] - Net revenue for the three months ended September 30, 2024, was $1,128.6 million, representing 94% of total revenue, compared to $623.0 million (92%) in the same period in 2023[194] - Total revenue for the nine months ended September 30, 2024, was $4,292.4 million, a 99% increase from $2,154.6 million in the same period in 2023[194] - Net income for the nine months ended September 30, 2024, was $1,287.9 million, compared to a net loss of $178.6 million in the same period in 2023[194] - Total revenue increased by $2.1 billion for the nine months ended September 30, 2024, contributing to higher operating cash flow[251] Trading Volume and User Growth - Monthly Transacting Users (MTUs) increased by 16% to 7.8 million for the three months ended September 30, 2024, compared to 6.7 million in 2023[161] - Trading Volume for the three and nine months ended September 30, 2024 was $185 billion and $723 billion, respectively, representing a 143% and 131% increase compared to 2023[161] - Consumer Trading Volume increased by 209% to $34 billion for the three months ended September 30, 2024, while Institutional Trading Volume grew by 132% to $151 billion[167] - Consumer transaction revenue for the nine months ended September 30, 2024, rose by 141% to $2,083.2 million, compared to $865.1 million in 2023, due to a 176% increase in consumer trading volume[197] - Institutional transaction revenue for the nine months ended September 30, 2024, increased by 282% to $204.3 million, compared to $53.4 million in 2023, driven by a 123% increase in institutional trading volume[197] Crypto Asset Performance - Bitcoin accounted for 37% of Trading Volume for the three months ended September 30, 2024, down from 38% in 2023, while Ethereum's share decreased from 19% to 15%[167] - Crypto Asset Volatility increased by 78% and 36% for the three and nine months ended September 30, 2024, respectively, contributing to higher Trading Volume[168] - Transaction revenue from Bitcoin decreased to 35% for the three months ended September 30, 2024, compared to 37% in 2023, while Ethereum's share dropped from 18% to 16%[167] - Losses on crypto assets held for investment, net were $120.5 million for the three months ended September 30, 2024, due to the remeasurement of the fair value of crypto assets, mainly Bitcoin and Ethereum[221][222] - Gains on crypto assets held for operations, net were $(142) thousand for the three months ended September 30, 2024, resulting from net receipts of crypto assets during a period of rising crypto asset prices[214] - A hypothetical 50% increase or decrease in crypto asset prices as of September 30, 2024, would result in a $630.4 million impact on the value of crypto assets held for investment[263] Subscription and Services Revenue - Subscription and services revenue includes stablecoin revenue from USDC, blockchain rewards, interest and finance fee income, and custodial fee revenue[173] - Subscription and services revenue increased by $221.7 million (66%) for the three months and $634.6 million (62%) for the nine months ended September 30, 2024, driven by growth in stablecoin revenue, blockchain rewards, and custodial fee revenue[199] - Stablecoin revenue grew by $74.5 million (43%) for the three months and $161.9 million (31%) for the nine months, primarily due to higher on-platform USDC balances and increased USDC market capitalization[199] - Blockchain rewards revenue increased by $80.4 million (108%) for the three months and $255.1 million (108%) for the nine months, driven by higher average prices for Ethereum and Solana, and increased native units staked[199] - Custodial fee revenue rose by $15.9 million (101%) for the three months and $48.7 million (98%) for the nine months, due to growth in average crypto assets held under custody of $62.4 billion and $72.6 billion[199] Expenses - Transaction expenses as a percentage of revenue vary based on revenue composition, with blockchain rewards increasing transaction expenses as a percentage of net revenue[179] - Technology and development expenses include personnel-related costs for platform maintenance, new product development, and website hosting[180] - Transaction expense grew by $81.2 million (90%) for the three months and $285.5 million (97%) for the nine months, primarily due to higher blockchain rewards fees and payment processing fees[204][207] - Technology and development expenses increased by $54.7 million (17%) for the three months and $98.1 million for the nine months, driven by higher personnel-related expenses and website hosting costs[208] - Sales and marketing expenses rose by $86.6 million (111%) for the three months and $202.6 million (90%) for the nine months, primarily due to higher USDC rewards expense and brand spend[204] - General and administrative expenses increased by $77.8 million (31%) for the three months and $177.4 million (23%) for the nine months, reflecting higher personnel-related costs[204] - Sales and marketing expenses increased by $86.6 million (111%) for the three months ended September 30, 2024, compared to 2023, driven by higher digital advertising spend and USDC rewards payouts[209][211] - USDC rewards payouts increased by $50.9 million (474%) for the three months ended September 30, 2024, compared to 2023, due to higher reward rates and on-platform USDC balances[209][211] - General and administrative expenses increased by $77.8 million (31%) for the three months ended September 30, 2024, compared to 2023, primarily due to higher personnel-related and customer support costs[212] - Customer support costs increased by $9.3 million (24%) for the three months ended September 30, 2024, compared to 2023, driven by increased capacity needs following higher trading volumes[212] Operating and Net Income - Operating income for the nine months ended September 30, 2024, was $1,273.1 million, a significant improvement from an operating loss of $277.3 million in the same period in 2023[194] - Gains on crypto assets held for operations, net, were $55.5 million for the nine months ended September 30, 2024, compared to no gains in the same period in 2023[194] - Adjusted EBITDA for the three months ended September 30, 2024, was $448,624 thousand, a significant increase from $178,332 thousand in 2023[234] - Adjusted EBITDA for the nine months ended September 30, 2024, reached $2,058,468 thousand, up from $653,696 thousand in 2023[234] Cash and Debt - As of September 30, 2024, the company held $7,723,806 thousand in cash and cash equivalents, a substantial increase from $5,139,351 thousand as of December 31, 2023[237] - The company's total USDC holdings as of September 30, 2024, were $871,425 thousand, compared to $576,028 thousand as of December 31, 2023[237] - On March 18, 2024, the company issued $1.3 billion in aggregate principal amount of convertible senior notes maturing on April 1, 2030[238] - As of September 30, 2024, the company held $4.3 billion in aggregate principal amount of debt[238] - Net cash provided by operating activities for the nine months ended September 30, 2024, increased by $664.1 million to $1,592,226, compared to $928,137 in 2023[251] - Net cash used in investing activities for the nine months ended September 30, 2024, increased by $147.9 million to $232,969, compared to $85,117 in 2023[253] - Net cash provided by financing activities for the nine months ended September 30, 2024, increased by $2.4 billion to $682,663, compared to a net cash used of $1,734,128 in 2023[254] - Customer custodial cash increased by $798.9 million due to higher trading volume for the nine months ended September 30, 2024[254] Derivatives and Financial Instruments - Gross Financing Derivatives as of September 30, 2024, totaled $265,259, compared to $62,980 as of December 31, 2023[270] - Gross Financing Derivatives gains for the three months ended September 30, 2024, were $25,378, compared to a loss of $325 in the same period in 2023[271] - Gross Financing Derivatives losses for the nine months ended September 30, 2024, were $56,529, compared to gains of $6,677 in the same period in 2023[271] - Gross Other Derivatives exposures as of September 30, 2024, were $46,523, down from $65,082 as of December 31, 2023[274] - Gains on Gross Other Derivatives for the three months ended September 30, 2024, were $4,712, compared to $12,639 in the same period in 2023[274] - Losses on Gross Other Derivatives for the nine months ended September 30, 2024, were $9,921, compared to gains of $13,738 in the same period in 2023[274] - A hypothetical 50% change in the fair value of Gross Financing Derivatives would not materially impact the company's financial statements[271] - A hypothetical 10% change in the fair value of Gross Other Derivatives would not materially impact the company's financial statements[274] Other Financial Metrics - The company generated 86% of total revenue in the U.S. for the three months ended September 30, 2024, compared to 90% in the same period in 2023[196] - Other revenue for the nine months ended September 30, 2024, increased by 48% to $196.2 million, compared to $132.7 million in the same period in 2023[196] - Other revenue increased by $25.5 million (50%) for the three months and $63.5 million for the nine months, reflecting higher average corporate balances and increased earned interest rates[200][202] - Other operating (income) expense, net decreased by $12.1 million (344%) for the three months ended September 30, 2024, compared to 2023, due to gains on certain derivatives in 2023 that did not recur in 2024[217] - Interest expense decreased by $0.3 million (1%) for the three months ended September 30, 2024, compared to 2023, with no material changes noted[220] - The change in (Benefit from) provision for income taxes for the three months ended September 30, 2024, was $(43,840) thousand, a decrease of 119% compared to 2023, primarily due to tax benefits from stock-based compensation[225] - For the nine months ended September 30, 2024, the provision for income taxes increased by $189,010 thousand, a 607% rise compared to 2023, driven by higher pretax income partially offset by stock-based compensation tax benefits[225] - The company authorized a share repurchase program of up to $1.0 billion of Class A common stock in October 2024[248] - Effective January 1, 2024, the company adopted ASU 2023-08, resulting in a fair value adjustment of $739.5 million on crypto assets held at that time[240] - The company's crypto assets held for operations are considered less liquid than cash and cash equivalents, particularly during market instability[242] - Crypto assets borrowed as of September 30, 2024, totaled $252.9 million[261] - Crypto assets held for investment as of September 30, 2024, amounted to $1.3 billion[261] - Restructuring expenses were immaterial for the three months ended September 30, 2024, compared to $142.6 million for the nine months ended September 30, 2023, related to workforce reduction[216]

Third Quarter 2024 October 30, 2024 $ $ Fellow Shareholders, Q3 was a solid quarter for Coinbase across our three priorities for 2024: driving revenue, crypto utility, and regulatory clarity. In Q3, we generated $1.2 billion in total revenue and $75 million in net income*. Q3 was our 7th consecutive quarter of positive Adjusted EBITDA, which was $449 million. And despite softer market conditions, we saw average native unit growth across staking, on-platform USDC, and custody, which helps diversify revenue o ...

NEW YORK, Oct. 29, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Coinbase Global, Inc. (NASDAQ: COIN) between April 14, 2021 and July 25, 2024, both dates inclusive (the “Class Period”), of the important November 12, 2024 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased Coinbase securities during the Class Period you may be entitled to compensation without payment of any out of po ...

Coinbase Global Inc. (COIN) is expected to report an improvement in its top and bottom lines when it reports third-quarter 2024 results on Oct. 30, after the closing bell.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Consensus Estimate for COIN’s third-quarter revenues is pegged at $1.3 billion, indicating 87.2% growth from the year-ago reported figure.The consensus estimate for earnings is pegged at 39 cents per share. The Zacks Consensus Estimate for COIN’s third-quart ...

In its upcoming report, Coinbase Global, Inc. (COIN) is predicted by Wall Street analysts to post quarterly earnings of $0.39 per share, reflecting an increase of 4000% compared to the same period last year. Revenues are forecasted to be $1.26 billion, representing a year-over-year increase of 87.2%. The consensus EPS estimate for the quarter has undergone an upward revision of 17.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed ...

SAN DIEGO, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Coinbase Global, Inc. (NASDAQ: COIN) publicly traded securities between April 14, 2021 and July 25, 2024, all dates inclusive (the “Class Period”), have until November 12, 2024 to seek appointment as lead plaintiff of the Coinbase class action lawsuit. Captioned Castle v. Coinbase Global, Inc., No. 24-cv-04850 (E.D. Pa.), the Coinbase class action lawsuit charges Coinbase as well as certai ...