Coinbase Q4 Earnings Preview: Trump Winning 2024 Election ‘A Shot In The Arm For The Crypto Industry’
Cryptocurrency company Coinbase Global (NASDAQ:COIN) could highlight record profitability and user metrics when the company reports fourth-quarter financial results after market close Thursday.
Earnings Estimates: Analysts expect Coinbase to report fourth-quarter revenue of $1.83 billion, up from $953.8 million in last year’s fourth quarter, according to data from Benzinga Pro.
The revenue estimate would mark the highest quarterly total for Coinbase since the fourth quarter of 2021 if the company hits the figure. This would also mark four straight quarters of revenue of $1.2 billion or more.
Coinbase missed analysts revenue estimates in the third quarter, but has beaten estimates in seven of the last 10 quarters overall.
Analysts expect Coinbase to report fourth-quarter earnings per share of $1.71, up from 51 cents per share in the fourth quarter. The company has beaten analyst estimates for earnings per share in seven straight quarters.
Coinbase has reported profitability in four straight quarters and a profit in the fourth quarter would make each quarter in 2024 profitable.
Read Also: Coinbase Taps Trump’s Campaign Manager, Chris LaCivita To Tackle Crypto Policy In Washington
What Analysts Are Saying: A surge in crypto asset prices and trading volumes in the fourth quarter could help Coinbase’s financials, HC Wainwright analyst Mike Colonnese said in a new investor note.
The analyst reiterated a Buy rating and raised the price target from $255 to $330.
“President Donald Trump’s re-election in early November proved …
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