Shares of Coinbase Global (COIN 15.40%) rose over 35% this week, according to data from S&P Global Market Intelligence. The leading cryptocurrency trading platform had strong earnings in the fourth quarter and 2023. With prices of cryptocurrency, such as Bitcoin, soaring again, investors have piled back into Coinbase -- and quickly. Bitcoin prices are currently over $52,000 but still below all-time highs.As of 11:30 a.m. ET on Friday, Feb. 16, Coinbase shares are up 192% in the last 12 months. Here's why th ...

Coinbase Global Inc.’s stock is a somewhat divisive name on Wall Street, with ratings split roughly evenly between the buys, holds, and sells. But one analyst put the cryptocurrency exchange’s story succinctly in the wake of Coinbase’s COIN, +12.30% latest results, which were helping to send its stock some 10% higher in Friday morning action. “Where bitcoin goes, the stock goes,” Bernstein’s Harshita Rawat wrote — “at least in the near-term.” See more: Coinbase’s stock soars after crypto platform swings to ...

Wedbush analysts lauded Coinbase Global Inc (NASDAQ:COIN)’s stronger-than-anticipated financial performance in the fourth quarter, noting the cryptocurrency exchange’s outperformance in several key areas. Coinbase reported revenues of $953.8 million in the quarter, surpassing street expectations of $826.1 million, and showcased a total revenue growth of 41.0% quarter-over-quarter.  Adjusted EBITDA and its margin reached $305 million and 33.7%, respectively, outperforming FactSet's projection of a 30.2% marg ...

Bitcoin (BTC) was on the move again this Friday, adding 0.8% against the US dollar following a late-Thursday retreat. As of 11.30am London time, the BTC/USD pair was swapping for $52,279, around one percent below yesterday’s intraday higher. Despite being knocked lower amid a bit of profit-taking, bitcoin remains in a buoyant position when taking a wider view of the market, with year-on-year gains above 110%. Bitcoin is up 15.5% week on week – Source: tradingview.com Bitcoin’s ETF-linked rally has had a po ...

Key PointsBitcoin surged over $52,000, reaching its highest level since December 2021 and pushing its market cap back above $1 trillion.The recent surge was fueled by the success of newly launched U.S. spot bitcoin ETFs, which have dramatically increased the demand for Bitcoin.The surge in Bitcoin's price has reignited momentum and volatility in several cryptocurrency-related stocks, with some hitting new 52-week highs.5 stocks we like better than Coinbase GlobalAfter the launch of close to a dozen Bitcoin ...

In this photo illustration, the Coinbase logo is seen displayed on a mobile phone screen.Shares of cryptocurrency exchange Coinbase soared 13% Friday in U.S. premarket trading after the company reported its first profit in two years.Coinbase, the largest U.S. venue for buying and selling cryptocurrencies, said that net income totalled $273 million in the fourth quarter.This is a breaking news story, and it is being updated. ...

Renewed investor enthusiasm for crypto has been good news for U.S. cryptocurrency exchange Coinbase.And while 2023 wasn’t the greatest year for crypto, it was no 2022, and Coinbase’s latest quarterly results, announced Thursday (Feb. 15), highlight that the famously volatile digital asset sector could, once again, be on the upswing. The company’s fourth-quarter revenue beat analysts’ $826 million estimate by more than $100 million, landing at $953 million — up 41% quarter-over-quarter — underscoring the dow ...

Financial Data and Key Metrics Changes - In 2023, the company achieved a net income of $95 million and an adjusted EBITDA of $964 million, with total revenue of $3.1 billion, down $86 million year-over-year [11][53] - Q4 net income was $273 million, with adjusted EBITDA of $305 million, benefiting from strong revenue growth and a non-cash tax valuation allowance release of $121 million [29][53] - The company cut costs by 45% year-over-year and reduced total operating expenses to $2.6 billion [11][53] Business Line Data and Key Metrics Changes - Subscription and services revenue in Q4 was $375 million, up 12%, primarily driven by blockchain rewards influenced by higher crypto asset prices [28] - Q4 transaction revenue was $529 million, up 83%, due to increased trading volumes among both simple and advanced traders [54] - The company saw a significant increase in institutional trading products, with Coinbase Prime growing and contributing to higher fee rates [78] Market Data and Key Metrics Changes - The company launched operations or received licenses in multiple countries including Bermuda, Brazil, Canada, France, Singapore, and Spain, expanding its global footprint [20] - The market experienced a 40% increase in crypto prices and a 60% increase in volatility by the end of Q4, driven by excitement around Bitcoin ETF approvals [27] Company Strategy and Development Direction - The company aims to drive revenue growth through international expansion, increasing derivatives and spot trading, and integrating USD Coin into the crypto economy [24] - Investment in Coinbase Wallet is a priority, focusing on decentralized applications and enhancing user experience [25] - The company is committed to regulatory clarity and is actively engaging with Congress to support pro-crypto legislation [51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's financial position and competitive landscape, indicating readiness for long-term growth [8] - The company anticipates modest growth in technology and development expenses due to higher stock-based compensation, while sales and marketing expenses are expected to decline [9] - Management highlighted the positive impact of Bitcoin ETFs on the industry, noting elevated engagement and net inflows across both retail and institutional clients [34][104] Other Important Information - The company has made significant investments in anti-money laundering programs and compliance, positioning itself as one of the most compliant crypto companies [99] - The company is actively pursuing a legal challenge against the SEC regarding the request for formal rule-making, with a briefing schedule set [123] Q&A Session All Questions and Answers Question: Why do insiders continue to sell their shares daily? - Insiders are allowed to sell shares at predetermined times or prices, and the stock was up nearly 400% in 2023, leading to executed sales [60] Question: Can you highlight the venture portfolio and its long-term opportunity? - The company has made over 400 investments in the crypto ecosystem, viewing it as a significant long-term opportunity [63] Question: How do the different pieces of payments fit together? - The company is exploring payments as a use case, with USD Coin enabling free instant global payments [66] Question: Has the Bitcoin ETF driven more institutional activity on the platform? - Yes, the Bitcoin ETFs have been net positive for the industry and have increased engagement and net inflows [104] Question: What is the plan to expand revenue drivers outside of the ETF custodian plans? - The company is focusing on expanding into new markets and developing additional products, including Ethereum ETFs [87] Question: Can you provide an overview of the SEC case process? - The company is challenging the SEC's decision not to engage in rule-making, with a briefing schedule set for the upcoming months [123]

Coinbase Global, Inc. (COIN) reported $953.8 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 51.6%. EPS of $1.04 for the same period compares to -$2.46 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $731.94 million, representing a surprise of +30.31%. The company delivered an EPS surprise of +1255.56%, with the consensus EPS estimate being -$0.09.While investors scrutinize revenue and earnings changes year-over-year and how they ...

Coinbase Global, Inc. (COIN) came out with quarterly earnings of $1.04 per share, beating the Zacks Consensus Estimate of a loss of $0.09 per share. This compares to loss of $2.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1,255.56%. A quarter ago, it was expected that this company would post a loss of $0.54 per share when it actually produced a loss of $0.01, delivering a surprise of 98.15%.Over the last four quarters, t ...