tl;dr
Coinbase Q4 Earnings Report Highlights Coinbase, the digital currency exchange platform, has just released its Q4 earnings report, showing a significant increase in revenue and earnings. The company's Q4 GAAP EPS of $1.04 beat expectations by $1.03, while its revenue of $953.8M represents a 51.6...
Coinbase Q4 Earnings Report Highlights
Coinbase, the digital currency exchange platform, has just released its Q4 earnings report, showing a significant increase in revenue and earnings. The company's Q4 GAAP EPS of $1.04 beat expectations by $1.03, while its revenue of $953.8M represents a 51.6% increase year-over-year, surpassing estimates by $134.87M. As a result, shares of Coinbase have surged by 3%.
Strong Q4 Performance and Expectations for Q1
In addition to the impressive Q4 results, Coinbase expects its Q1 subscription and services revenue to fall within a range of $410-480 million. The company is also anticipating transaction expenses to be in the mid-teens as a percentage of net revenue. Furthermore, Coinbase foresees an increase in technology & development and general & administrative expenses for the following quarter, with projections of $600-650 million, driven mainly by higher stock-based compensation resulting from improvements in operational processes. The Q1 sales & marketing expenses are projected to be $85-100 million, lower than Q4 due to seasonally lower NBA spend.
More about Coinbase Global Inc
Based on the financial data, Coinbase Global Inc. provides financial infrastructure and technology for the crypto economy. The company's market cap stands at $39.63 billion, with a 3.27% change in price. Its stock performance shows a 3.21% decrease and a 11.3% increase in revenue. The market sentiment appears to be bullish with a 0.081 RSI indicating a potential upward trend. However, it's important to note the potential risks and uncertainties associated with the volatile nature of the cryptocurrency market.
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