Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»Coinbase Q3 Earnings Highlights: Revenue Miss, EPS Miss, Transaction Revenue Falls From Q2 – Coinbase Glb (NASDAQ:COIN)
    Cryptocurrency

    Coinbase Q3 Earnings Highlights: Revenue Miss, EPS Miss, Transaction Revenue Falls From Q2 – Coinbase Glb (NASDAQ:COIN)

    October 30, 20242 Mins Read


    Cryptocurrency platform company Coinbase Global COIN reported third-quarter financial results after the market close Wednesday.

    Here are the key highlights.

    What Happened: Coinbase reported third-quarter revenue of $1.21 billion, which missed a Street consensus estimate of $1.26 billion, according to data from Benzinga Pro.

    The company reported earnings of 28 cents per share, which missed a Street consensus estimate of 42 cents per share.

    Coinbase’s third quarter marked a seventh consecutive quarter of positive adjusted EBITDA, which came in at $449 million.

    Coinbase trading volume was $185 billion in the third quarter, down 18% quarter-over-quarter. Transaction revenue was $573 million in the third quarter, down 27% quarter-over-quarter.

    Consumer transaction revenue was $483.3 million, which was down 27% quarter-over-quarter. Institutional transaction revenue was $55.3 million and down 13% quarter-over-quarter.

    Coinbase had subscription and services revenue of $556 million in the third quarter, down 7% quarter-over-quarter.

    In the third quarter, Bitcoin BTC/USD was the largest asset by transaction revenue (35%) and trading volume (37%). Ethereum ETH/USD ranked second for transaction revenue (16%) and trading volume (15%). Solana SOL/USD was listed as the third-largest cryptocurrency for transaction revenue at 10%.

    The company’s Base is now the No. 1 layer two network in terms of transactions and total value locked, Coinbase said.

    Read Also: Coinbase Q3 Earnings Preview: Revenue Streak On The Line As Bitcoin Nears All-Time Highs

    What’s Next: The company is guiding for fourth-quarter subscription and services revenue in a range of $505 million to $580 million.

    The month of October has generated $190 million in total transaction revenue to date, the company said.

    Coinbase said it expects higher sales and marketing expenses in the fourth quarter, driven by higher USDC USDC/USD rewards expenses.

    The company highlighted the 2024 presidential election as an event that could impact trading volume and volatility.

    “The upcoming 2024 elections are the next major milestone in our ongoing work to drive regulatory clarity for crypto,” the company said.

    COIN Price Action: Coinbase stock is down 3.66% to $204 in after-hours trading Wednesday versus a 52-week trading range of $73.56 to $283.48.

    Read Next:

    Photo courtesy of Coinbase.

    Market News and Data brought to you by Benzinga APIs

    © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Coinbase to expand core platform beyond cryptocurrency with tokenized real-world assets

    Cryptocurrency

    Trump appoints new group to promote digital finance

    Cryptocurrency

    Innovative Chinese dissident uses cryptocurrency to fund his activism

    Cryptocurrency

    When is the next Blue Origin launch? Crypto billionaire joins crew

    Cryptocurrency

    CBUAE publishes comprehensive report on progress made towards issuing the “Digital Dirham”

    Cryptocurrency

    Hackers wipe out Rs 384 crore from Bengaluru cryptocurrency firm Neblio Technologies; company says inside job | Bangalore News

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Investments

    Is gold safer than U.S. Treasury bonds as debt keeps soaring?

    Commodities

    Why Commodities Faltered Amid Stock Market Rout

    Commodities

    Recycled Metal Market Expected to Reach $ 4.7 million by 2031 |

    Editors Picks

    Shyam Metalics and Energy Limited annonce le versement d’un dividende final

    May 9, 2025

    Gold sails above $3,100 to uncharted territory as US tariffs approach – ThePrint – ReutersFeed

    March 31, 2025

    la revue Métal Hurlant mise à l’honneur par la Cité internationale de la bande-dessinée

    March 25, 2025

    Adam Silver relativise les mauvaises audiences des Finals 2025 • Basket USA

    June 12, 2025
    What's Hot

    Al-Salam Real Estate Investment Trust annonce la nomination de Datin Ungku Suseelawati Binti Ungku Omar en tant qu’administrateur indépendant et non exécutif -Le 21 janvier 2025 à 10:32

    January 21, 2025

    Intelligent AI and BCIS launch AI-driven property rebuild cost platform

    October 11, 2024

    Gold prices consolidates at record levels amid global uncertainty

    March 10, 2025
    Our Picks

    MoCCAE discusses ways to support farmers, boost agricultural productivity in Eastern Region

    October 27, 2024

    Giant metal stockpile in Singapore sparks rare warehouse battle

    August 16, 2024

    Asante Gold veut apporter 10 tonnes à la production d’or du Ghana en 2025

    May 5, 2025
    Weekly Top

    Morrisons head of property steps down

    July 31, 2025

    Trump appoints new group to promote digital finance

    July 31, 2025

    Act fast, avoid pitfalls: Winning property tactics

    July 31, 2025
    Editor's Pick

    Axcap Ventures Inc. conclut une entente définitive d’achat de propriétés minières avec Carlyle Commodities Corp.

    May 26, 2025

    World Bank: Hire more women to attract more foreign direct investments in developing countries like Philippines

    June 16, 2025

    Four Corners Property Trust acquiert 6 propriétés Burger King pour un montant de 10,1 millions de dollars -Le 19 mars 2025 à 10:17

    March 19, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.