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In this photographic illustration, a coinbase logo is shown on a smartphone with market percentages in the background.
Omar Marques | Soup images | LIGHTROCKET | Getty images
Coinbase Thursday informed that best than expected Fourth quarter results and its greatest quarterly income in three years, strengthened by a furious rally after the choice that led cryptography prices to a new high after a new high at the end of last year.
The action increased 2% in the extended trade.
This is what the company reported for the fourth quarter compared to what Wall Street expected, according to an LSEG analysts survey:
- Profit per action: $ 4.68 vs. $ 1.81 expected
- Revenue: $ 2.27 billion compared to $ 1.88 billion expected
Coinbase, which operates the largest US market to buy and sell cryptocurrencies, reported net income of $ 1.3 billion, or $ 4.68 per share, compared to $ 273 million, or $ 1.04 per share, in the same period of the previous year .
It also registered revenues of $ 2.3 billion, compared to $ 953.8 million in the same period of the previous year. Transactions revenues doubled from last year to $ 1.56 billion, and the estimates of analysts of $ 1.29 billion, according to Streetacount.
The total negotiation volume was $ 439 billion, 185% more year after year. The consumer negotiation volume increased 224% since the same period a year ago, while the volume of institutional negotiation increased by 176%.
“The majority of the growth of and/and in the volume of negotiation was driven by higher levels of volatility of cryptographic assets, particularly in Q1 and Q4, as well as the prices of the highest average cryptographic assets,” said the company in Your shareholders letter. “The two main factors that support these stronger macroeconomic factors were the launch of Bitcoin ETF products in Q1’24, and the election of a president and the Congress pro-described in the fourth quarter and the associated expectation of regulatory clarity, So it resulted in the high cryptographic trade activity. “
Coinbase reported that it has generated $ 750 million in commercial revenues until February 11, and is expected to be in high to high adolescence as a percentage of net income for the current quarter. The company has been making efforts to diversify its income flows away from trade. From the fourth quarter, negotiation represents 68.5% of its total income, and most come from retail merchants.
It is expected that the revenues of its subscription and services business, which includes Stablecoins, Appading, Custody and its Coinbase One product, will be between $ 685 million and $ 765 million for the current quarter.
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