Coinbase (COIN) Q4 2023 earnings results beat revenue expectations on surprise profit
Not only did Coinbase avoid an expected loss on earnings-per-share, but it put up a winning revenue against expectations.
Coinbase (Stock symbol: COIN) is one of the most recent companies to report on its recent quarterly earnings results. Cryptocurrencies and NFTs may have died down from their extreme hype in previous years, but Coinbase is still one of the primary platforms dealing in trading of Bitcoin, Dogecoin, and other such digital tokens. It also managed to outperform expectations, avoiding an earnings-per-share (EPS) loss and coming out ahead in revenue expectations.
Coinbase released its Q4 2023 earnings results on its investor relations website this week. For revenue, Coinbase put up a bottom line of $904.6 million USD. That was well above the $822 million that was expected by Wall Street. Meanwhile, the company was actually expected by analysts to post an EPS loss of a little under $0.01 per share. Instead, the company’s EPS worked out to a $1.02 per share of profit.
Coinbase became a prominent name during the boom of cryptocurrency and NFTs. It was around before well before the boom, but it was well-positioned to take advantage when the hype of crypto hit its fever pitch. Even so, Coinbase has seen its share of trouble as well, coming into direct conflict with the US Securities and Exchange Commission on several occasions. Even so, Coinbase came out of the crypto boom with enough momentum to continue to operate as one of the most relevant trading platforms in the sector.
With a surprisingly decent quarter behind it, it will remain to be seen if Coinbase can keep that momentum going. Stay tuned as we continue to report on more companies reporting on their quarterly earnings results.
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replyTJ Denzer posted a new article, Coinbase (COIN) Q4 2023 earnings results beat revenue expectations on surprise profit
