Coinbase Q4 Earnings Highlights: Trading Platform Welcomes ‘Dawn Of A New Era For Crypto’

Coinbase Global (NASDAQ:COIN) reported fourth-quarter financial results after the market close Thursday.

Here are the key highlights.

What Happened: Coinbase reported fourth-quarter revenue of $2.3 billion, up 88% quarter-over-quarter. The revenue figure beat a Street consensus estimate of $1.83 billion, according to data from Benzinga Pro.

The company saw transaction revenue of $1.6 billion, up 172% quarter-over-quarter in the fourth quarter. Subscription and services revenue was $641 million, up 15% quarter-over-quarter and beating the company’s guidance of a range of $505 million to $580 million.

Consumer trading volume was $94 billion in the fourth quarter, up 176% quarter-over-quarter. The company said this growth outpaced the U.S. spot market, which was up 126% quarter-over-quarter.

The company’s fourth-quarter GAAP earnings per share were $4.68 versus a Street consensus estimate of $1.81.

Coinbase added several new cryptocurrencies to trade in the fourth quarter, with …

Full story available on Benzinga.com