NASDAQ$COIN
Coinbase Global Inc · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Coinbase reported significant growth in Q4 2024, driven by strong transaction revenue and increased crypto trading activity.
Coinbase's Q4 2024 revenue surged to $2.27 billion, an increase of 138.15% YoY, fueled by a 172% rise in transaction revenue. Net income reached $1.29 billion, supported by higher trading volumes and gains from its crypto asset investment portfolio. The company ended the quarter with $9.3 billion in USD resources and strong institutional adoption.
- Revenue grew 138.15% YoY to $2.27 billion, with transaction revenue up 172% QoQ.
- Net income surged 372.19% YoY to $1.29 billion, driven by increased trading volumes.
- Subscription and services revenue increased 70.74% YoY to $641.1 million.
- Coinbase ended Q4 with $9.3 billion in USD resources, reinforcing financial stability.
Headline financials
Revenue & EPS history
Coinbase · Revenue · Quarterly
$2.27B
Revenue by segment
Coinbase · $317M total across 2 segments · Q3 2023
- Interest and Finance Fee Income$243M+138.2%76.5%
- Blockchain Rewards$74.5M+18.6%23.5%
Forward guidance
Coinbase expects continued growth in Q1 2025, driven by strong crypto adoption, rising USDC market cap, and increased institutional engagement. However, market volatility and regulatory developments remain key risks.
Tailwinds
- Q1 2025 subscription & services revenue projected between $685M - $765M.
- USDC market cap and assets on platform reached all-time highs in early Q1 2025.
- Strong growth expected from Coinbase One subscriber base and international markets.
- Continued expansion in institutional trading and crypto derivatives.
- Momentum in US crypto regulatory clarity expected to drive future business opportunities.
Headwinds
- Market volatility could impact trading volumes and transaction revenue.
- Increased transaction expenses expected due to rebates for institutional customers.
- Technology & development and general expenses projected to rise due to market-driven factors.
- Sales & marketing expenses expected to increase due to performance marketing spend.
- Regulatory uncertainties in certain international markets may pose operational challenges.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
-2.8%
Avg return
Earnings day
-2.0%
Avg return
5 days after
-1.3%
Avg return
30 days after
32%
8 / 25 earnings
Positive
+20.1%
Q1 2023
Best reaction
-35.7%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | +4.6% | -21.0% | |
| Q4 2025 | +16.5% | +16.3% | +38.6% | |
| Q3 2025 | -2.2% | -2.8% | -17.0% | |
| Q2 2025 | -16.7% | -19.6% | -19.4% | |
| Q1 2025 | -3.6% | +27.6% | +21.7% | |
| Q4 2024 | -8.0% | -13.2% | -38.6% | |
| Q3 2024 | -18.4% | -15.2% | +34.8% | |
| Q2 2024 | -8.9% | -13.5% | -18.3% | |
| Q1 2024 | +6.3% | +2.0% | +7.5% | |
| Q4 2023 | +12.4% | +8.1% | +51.1% | |
| Q3 2023 | +10.3% | +14.5% | +71.9% | |
| Q2 2023 | -3.5% | -2.6% | -13.8% | |
| Q1 2023 | +20.1% | +24.2% | +33.1% | |
| Q4 2022 | -6.2% | -10.4% | +1.7% | |
| Q3 2022 | -3.1% | -16.3% | -21.5% | |
| Q2 2022 | -4.0% | -7.7% | -25.4% | |
| Q1 2022 | -35.7% | -18.7% | -23.6% | |
| Q4 2019 | +6.2% | +8.3% | +4.0% | |
| Q4 2021 | +2.4% | +13.6% | +8.1% | |
| Q3 2020 | -5.9% | -3.4% | -28.4% | |
| Q3 2021 | -7.2% | -3.1% | -25.4% | |
| Q2 2020 | -4.9% | -4.8% | -7.9% | |
| Q2 2021 | -0.7% | -6.9% | -8.6% | |
| Q4 2020 | -6.4% | -15.2% | -15.5% | |
| Q1 2021 | -8.9% | -15.7% | -21.0% | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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