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Coinbase Global (COIN) Reports Q1 Earnings: What Key Metrics Have to Say
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Coinbase Global, Inc. (COIN - Free Report) reported $1.64 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 112%. EPS of $1.65 for the same period compares to $0.15 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.26 billion, representing a surprise of +29.55%. The company delivered an EPS surprise of +58.65%, with the consensus EPS estimate being $1.04.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Coinbase Global performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Trading Volume: $312 billion versus $294.28 billion estimated by five analysts on average.
Trading Volume - Institutional: $256 billion versus the five-analyst average estimate of $243.67 billion.
Trading Volume - Consumer: $56 billion versus $50.63 billion estimated by five analysts on average.
Monthly Transacting Users: 8 million versus the four-analyst average estimate of 7.95 million.
Net Revenue- Total Subscription and services: $510.90 million compared to the $438.59 million average estimate based on seven analysts. The reported number represents a change of +41.3% year over year.
Net Revenue- Transaction revenue: $1.08 billion versus the seven-analyst average estimate of $756.70 million. The reported number represents a year-over-year change of +187.4%.
Other revenue: $56.10 million versus the seven-analyst average estimate of $48.55 million. The reported number represents a year-over-year change of +55.3%.
Net revenue: $1.59 billion versus the seven-analyst average estimate of $1.20 billion.
Net Revenue- Transaction revenue- Consumer, net: $935.20 million versus $772.65 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +165.4% change.
Net Revenue- Transaction revenue- Institutional, net: $85.40 million compared to the $60.77 million average estimate based on five analysts. The reported number represents a change of +282.8% year over year.
Net Revenue- Subscription and services- Other subscription and services: $63.70 million versus $49.95 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +111.8% change.
Net Revenue- Subscription and services- Custodial fee: $32.30 million versus $34.16 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +89.5% change.
Shares of Coinbase Global have returned -16.5% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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Coinbase Global (COIN) Reports Q1 Earnings: What Key Metrics Have to Say
Coinbase Global, Inc. (COIN - Free Report) reported $1.64 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 112%. EPS of $1.65 for the same period compares to $0.15 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.26 billion, representing a surprise of +29.55%. The company delivered an EPS surprise of +58.65%, with the consensus EPS estimate being $1.04.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Coinbase Global performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Trading Volume: $312 billion versus $294.28 billion estimated by five analysts on average.
- Trading Volume - Institutional: $256 billion versus the five-analyst average estimate of $243.67 billion.
- Trading Volume - Consumer: $56 billion versus $50.63 billion estimated by five analysts on average.
- Monthly Transacting Users: 8 million versus the four-analyst average estimate of 7.95 million.
- Net Revenue- Total Subscription and services: $510.90 million compared to the $438.59 million average estimate based on seven analysts. The reported number represents a change of +41.3% year over year.
- Net Revenue- Transaction revenue: $1.08 billion versus the seven-analyst average estimate of $756.70 million. The reported number represents a year-over-year change of +187.4%.
- Other revenue: $56.10 million versus the seven-analyst average estimate of $48.55 million. The reported number represents a year-over-year change of +55.3%.
- Net revenue: $1.59 billion versus the seven-analyst average estimate of $1.20 billion.
- Net Revenue- Transaction revenue- Consumer, net: $935.20 million versus $772.65 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +165.4% change.
- Net Revenue- Transaction revenue- Institutional, net: $85.40 million compared to the $60.77 million average estimate based on five analysts. The reported number represents a change of +282.8% year over year.
- Net Revenue- Subscription and services- Other subscription and services: $63.70 million versus $49.95 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +111.8% change.
- Net Revenue- Subscription and services- Custodial fee: $32.30 million versus $34.16 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +89.5% change.
View all Key Company Metrics for Coinbase Global here>>>Shares of Coinbase Global have returned -16.5% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.