tl;dr
Coinbase Global (NASDAQ:COIN) stock surged 16.3% in after-hours trading after returning to profitability in Q4, driven by increased interest income from stablecoin reserves and rising cryptocurrency prices. The company's Q1 2024 subscription and services revenue is anticipated to exceed consensus es...
Coinbase Global (NASDAQ:COIN) stock surged 16.3% in after-hours trading after returning to profitability in Q4, driven by increased interest income from stablecoin reserves and rising cryptocurrency prices. The company's Q1 2024 subscription and services revenue is anticipated to exceed consensus estimates, with transaction expenses also projected to outpace expectations. Technology & development, general & administrative expenses, and sales and marketing expenses are all expected to see changes in the upcoming quarter. Q4 financial performance exceeded analysts' expectations, with substantial increases in revenue, transaction revenue, subscription and services revenue, and adjusted EBITDA.
Conference call at 5:30 p.m. ET. Earlier, Coinbase (COIN) GAAP EPS of $1.04, beats by $1.03, revenue of $953.8M beats by $134.87M.
More about Coinbase Global Inc
Key financial metrics for Coinbase Global Inc show a market capitalization of $39.64 billion, with a negative EPS of -3.21 and a P/E ratio of 11.3. The company also has a total revenue of $2.63 billion and a current ratio of 3.27.
Stock performance indicates a slight decrease with a price change of -0.28 and a stock price of $88.29. Market sentiment towards Coinbase Global Inc is cautious, given its involvement in the crypto economy and the inherent volatility and uncertainty associated with this sector. Potential risks and uncertainties should be carefully considered before making any investment decisions.
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