Coinbase Global (COIN) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Coinbase Global, Inc. reported a revenue of $1.78 billion for the quarter ended December 2025, reflecting a 21.6% decline year-over-year and a slight miss of 0.55% against the Zacks Consensus Estimate of $1.79 billion [1] - The earnings per share (EPS) was $0.66, significantly lower than the $3.39 reported in the same quarter last year, and also fell short of the consensus estimate of $0.92 by 28.26% [1] Financial Performance Metrics - Trading Volume reached $296.00 billion, exceeding the six-analyst average estimate of $279.23 billion [4] - Monthly Transacting Users (MTUs) were reported at 9.2 million, slightly below the average estimate of 9.37 million [4] - Institutional Trading Volume was $237.00 billion, surpassing the average estimate of $228.36 billion [4] - Consumer Trading Volume stood at $59.00 billion, above the five-analyst average estimate of $54.33 billion [4] - Total Subscription and Services Net Revenue was $727.4 million, marginally below the average estimate of $735.15 million, but showed a year-over-year increase of 13.5% [4] - Other Revenue was $71.09 million, slightly below the average estimate of $73.98 million, representing a 4.7% decline year-over-year [4] - Transaction Revenue was $982.7 million, falling short of the $1.03 billion estimate, marking a 36.8% decrease year-over-year [4] - Overall Net Revenue was $1.71 billion, below the $1.79 billion estimate, reflecting a 22.2% decline year-over-year [4] - Subscription and Services Revenue from Blockchain was $151.6 million, below the average estimate of $173.31 million, indicating a 29.5% year-over-year decline [4] - Other Subscription and Services Revenue was $151.7 million, exceeding the average estimate of $136.59 million, with a year-over-year increase of 66% [4] - Interest and Finance Fee Income from Subscription and Services was $59.9 million, slightly below the average estimate of $61.61 million, representing an 8.8% decline year-over-year [4] - Stablecoin Revenue was $364.1 million, surpassing the average estimate of $355.44 million, with a year-over-year increase of 61.2% [4] Stock Performance - Coinbase Global's shares have declined by 40.1% over the past month, contrasting with a minor decline of 0.3% in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]