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Coinbase Global (COIN) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2024, Coinbase Global, Inc. (COIN - Free Report) reported revenue of $1.21 billion, up 78.8% over the same period last year. EPS came in at $0.62, compared to -$0.01 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.27 billion, representing a surprise of -5.24%. The company delivered an EPS surprise of +51.22%, with the consensus EPS estimate being $0.41.
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 - Consumer: $34 billion versus $30.07 billion estimated by five analysts on average.
Trading Volume: $185 billion versus the five-analyst average estimate of $180.89 billion.
Trading Volume - Institutional: $151 billion versus $150.82 billion estimated by five analysts on average.
Monthly Transacting Users: 7.8 million compared to the 7.88 million average estimate based on four analysts.
Net Revenue- Total Subscription and services: $556.10 million compared to the $574.86 million average estimate based on seven analysts. The reported number represents a change of +66.3% year over year.
Net Revenue- Transaction revenue: $572.50 million versus $626.17 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +98.4% change.
Other revenue: $76.60 million versus $60.80 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +49.8% change.
Net revenue: $1.13 billion versus the seven-analyst average estimate of $1.19 billion.
Net Transaction Revenue - Consumer, net: $483.30 million versus $508.88 million estimated by five analysts on average.
Net Revenue- Transaction revenue- Institutional, net: $55.30 million versus $49.04 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +293% change.
Net Transaction Revenue - Other transaction revenue: $34 million versus the five-analyst average estimate of $50.75 million.
Net Revenue- Subscription and services- Blockchain: $154.80 million compared to the $174.13 million average estimate based on four analysts. The reported number represents a change of +107.9% year over year.
Shares of Coinbase Global have returned +33.1% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Coinbase Global (COIN) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2024, Coinbase Global, Inc. (COIN - Free Report) reported revenue of $1.21 billion, up 78.8% over the same period last year. EPS came in at $0.62, compared to -$0.01 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.27 billion, representing a surprise of -5.24%. The company delivered an EPS surprise of +51.22%, with the consensus EPS estimate being $0.41.
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 - Consumer: $34 billion versus $30.07 billion estimated by five analysts on average.
- Trading Volume: $185 billion versus the five-analyst average estimate of $180.89 billion.
- Trading Volume - Institutional: $151 billion versus $150.82 billion estimated by five analysts on average.
- Monthly Transacting Users: 7.8 million compared to the 7.88 million average estimate based on four analysts.
- Net Revenue- Total Subscription and services: $556.10 million compared to the $574.86 million average estimate based on seven analysts. The reported number represents a change of +66.3% year over year.
- Net Revenue- Transaction revenue: $572.50 million versus $626.17 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +98.4% change.
- Other revenue: $76.60 million versus $60.80 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +49.8% change.
- Net revenue: $1.13 billion versus the seven-analyst average estimate of $1.19 billion.
- Net Transaction Revenue - Consumer, net: $483.30 million versus $508.88 million estimated by five analysts on average.
- Net Revenue- Transaction revenue- Institutional, net: $55.30 million versus $49.04 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +293% change.
- Net Transaction Revenue - Other transaction revenue: $34 million versus the five-analyst average estimate of $50.75 million.
- Net Revenue- Subscription and services- Blockchain: $154.80 million compared to the $174.13 million average estimate based on four analysts. The reported number represents a change of +107.9% year over year.
View all Key Company Metrics for Coinbase Global here>>>Shares of Coinbase Global have returned +33.1% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.