The Coinbase logo is displayed on a smartphone with stock market percentages in the background.
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Jamming Thursday reported better than expected Fourth trimester results And its most important quarterly income in three years, reinforced by a post-electoral rally which pushed the prices of cryptography to a new summit after a new summit at the end of last year.
The stock increased by 2% in prolonged exchanges.
Here is what the company reported for the fourth quarter compared to what Wall Street was waiting for, according to a survey of LSEG analysts:
- Profit by action: $ 4.68 against $ 1.81 expected
- Income: $ 2.27 billion against $ 1.88 billion expected
Coinbase, which operates the largest American market for the purchase and sale of cryptocurrencies, said net profit of $ 1.3 billion, or $ 4.68 per share, against 273 million dollars, or 1 , $ 04 per share, during the same period a year ago.
He also recorded income of $ 2.3 billion, compared to $ 953.8 million during the same period a year ago. Transaction revenues have more than doubled from last year to $ 1.56 billion and have beaten $ 1.29 billion analysts, said Streetaccount.
The total volume of exchanges was $ 439 billion, up 185% from one year to the next. The consumer negotiation volume increased by 224% compared to the same period a year ago, while the volume of institutional exchanges increased by 176%.
“The majority of growth y / y of the volume of exchanges was motivated by higher levels of volatility of cryptographic assets – in particular in the first quarter and first quarter – as well as average prices of average cryptography,” said the company in its shareholders’ letter. “The two main factors underlying these stronger macroeconomic factors were the launch of Bitcoin ETF products in Q1’24, and the election of a Pro-Crypto president and the congress in Q4’24 and the associated expectation of regulatory clarity – which resulted which both results in the R4’24 and the associated expectation of regulatory clarity – which resulted in a high -time crypto trading activity, “also indicated the company.
First trimester perspectives
Coinbase said that he had generated $ 750 million in negotiations until February 11. Negotiation income should be between medium and raised adolescents as a percentage of net income for the current quarter.
Coinbase said he made efforts to diversify his sources of income far from exchanges. Since the fourth quarter, exchanges represent 68.5% of its total income, most of the retail merchants.
Revenues from its subscription and services activity, which includes stablescoins, stimulus, guard and its Coinbase One product, should be between $ 685 million and $ 765 million for the current quarter.
Financial director Alesia Haas told CNBC that the stablecoin of the USDC, which is published by Circle and has a income sharing agreement with Coinbase, is ready for growth in a world of legislation after the stable.
“We can generate a public service in this area where we can lead more trading pairs on our own platforms labeled in USDC, which leads to liquidity, and the more liquidity in any active, which leads to more adoption “She said.
Coinbase also provides that the USDC stimulates an increase in the quarter to the other of the selling and marketing costs in the first quarter.
