Analyst: Coinbase expected to report revenue of $1.84 billion in Q4

Odaily Planet Daily News According to analyst expectations compiled by FactSet, Coinbase is expected to report earnings per share (EPS) of $2.11 and revenue of $1.84 billion in the fourth quarter. This is a significant increase from Q4 2023 earnings of $1.04 per share on revenue of $954 million. Analysts estimate Coinbase’s total trading volume in the fourth quarter to be $216 billion, up from $185 billion in the third quarter and $154 billion in the fourth quarter of 2023. While the growth is significant, it is still far below the $312 billion in trading volume Coinbase recorded in the first quarter of last year, when the approval of a bitcoin spot exchange-traded fund (ETF) sparked a renewed boom in cryptocurrency trading. Investors will also be watching the continued growth of Coinbase’s subscription and services business, which includes the revenue the company earns from its stablecoin USDC. The segment is expected to report revenue of $611 million, up from $375 million in the year-ago period. (Barrons)