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Here's What Key Metrics Tell Us About Coinbase Global (COIN) Q3 Earnings

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For the quarter ended September 2025, Coinbase Global, Inc. (COIN - Free Report) reported revenue of $1.87 billion, up 55.1% over the same period last year. EPS came in at $1.44, compared to $0.62 in the year-ago quarter.

The reported revenue represents a surprise of +7.09% over the Zacks Consensus Estimate of $1.75 billion. With the consensus EPS estimate being $1.03, the EPS surprise was +39.81%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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: $295.00 billion versus the five-analyst average estimate of $299.41 billion.
  • Trading Volume - Institutional: $236.00 billion versus the five-analyst average estimate of $245.98 billion.
  • Trading Volume - Consumer: $59.00 billion versus $53.44 billion estimated by five analysts on average.
  • Assets on Platform: $516.00 billion compared to the $452.63 billion average estimate based on three analysts.
  • Net Revenue- Total Subscription and services: $746.7 million compared to the $712.26 million average estimate based on six analysts. The reported number represents a change of +34.3% year over year.
  • Net Revenue- Transaction revenue: $1.05 billion versus the six-analyst average estimate of $939.45 million. The reported number represents a year-over-year change of +82.8%.
  • Other revenue: $75.71 million versus the six-analyst average estimate of $76.83 million. The reported number represents a year-over-year change of -1.2%.
  • Net revenue: $1.79 billion versus $1.66 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +58.9% change.
  • Net Transaction Revenue- Other transaction revenue: $67.7 million compared to the $57.42 million average estimate based on five analysts.
  • Net Revenue- Subscription and services- Blockchain: $184.6 million versus $166.82 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +19.3% change.
  • Net Revenue- Transaction revenue- Institutional, net: $135 million compared to the $77.94 million average estimate based on five analysts. The reported number represents a change of +144.1% year over year.
  • Net Revenue- Subscription and services- Other subscription and services: $142.7 million versus the five-analyst average estimate of $116.68 million. The reported number represents a year-over-year change of +143.1%.

View all Key Company Metrics for Coinbase Global here>>>

Shares of Coinbase Global have returned +0.7% over the past month versus the Zacks S&P 500 composite's +3.6% 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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