Coinbase reports $ 2.3b in income, eclipsing the expectations of analysts

On February 13, Coinbase reported income for the fourth quarter of 2024 for a sum of $ 2.3 billion that was equivalent to a well -adjusted profits of $ 4.68, compared to $ 1.04 in the same quarter of 2023.

Its quarterly income increased 88% year after year, which resulted in a net income of $ 1.3 billion for the period.

The firm also reported an income of the entire year of $ 6.6 billion, net revenues of $ 2.6 billion and adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) of $ 3.3 billion.

Our financial results Q4 and FY 2024 are now live. pic.twitter.com/r5luw7pwi9

– Coinbase ️ (@coinbase) February 13, 2025

Eclipses coinbase expectations

Bumper income report Expectations of deleted analysts, which were profits of $ 1.36 in revenue of $ 1.59 billion.

The company obtains the participation of the lion in its average transaction rates higher than the industry, with the revenue of transaction in the quarter that increase 172% to $ 1.6 billion.

This is equivalent to almost 70% of its total income, which was mainly driven by cryptographic market profits, which increased 45% during the three -month period.

Subscription revenues and Coinbase services increased by 15% to $ 641 million, and saw that Stablecoin’s revenues grew 31% year after year to $ 226 million. Meanwhile, Blockchain Rewards revenues grew 39% to $ 215 million, and revenues from the custody rate grew 36% to $ 43 million.

Coinbase executives, including CEO Brian Armstrong, believe that Crypto is entering a golden age, moving from a niche asset class to conventional financial infrastructure.

“It is the dawn of a new era for cryptography. Crypto’s voice was heard aloud and clearly in the US elections, and the era of regulation through the application that paralyzed our industry in the United States is coming out. “

The firm plans to expand its international business in 2025 and is looking for growth in subscription and services income, including retail participation. Coinbase also aims to convert the USDC into the main stablecoin, taking advantage of the effects of the network and compliance advantages.

Co -stock reaction

Coinbase shares increased 8.4% in the day to $ 298 before resolving a little below $ 294 in the negotiation at time, according to Google Finance.

The currency has increased by 20% in the year in which it will be carried out, exceeding cryptography markets, which have actually fallen 2.5% since January 1. Since the moment last year, Coinbase shares have increased by 112%, also exceeding 69% cryptographic market on the same period.

I have never been more optimistic $ Currency. TLDR: Very optimistic called so far. Ignore after the market price. We are going up more@Brian_armstrong In Call Now: “The cryptographic is becoming the main current, Coinbase will be the platform that will boost many of these companies that are integrated with crypto, it is …

– Zach Light ️ (@Zachlight16) February 13, 2025