Coinbase Global, Inc. (COIN) reported $953.8 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 51.6%. EPS of $1.04 for the same period compares to -$2.46 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $731.94 million, representing a surprise of +30.31%. The company delivered an EPS surprise of +1255.56%, with the consensus EPS estimate being -$0.09.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Coinbase Global, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Trading Volume: $154 billion versus the six-analyst average estimate of $116.41 billion.
- Trading Volume - Institutional: $125 billion compared to the $104.44 billion average estimate based on five analysts.
- Trading Volume - Consumer: $29 billion versus $17.11 billion estimated by five analysts on average.
- Net Revenue- Total Subscription and services: $375.40 million compared to the $337.57 million average estimate based on eight analysts. The reported number represents a change of +32.7% year over year.
- Net Revenue- Transaction revenue: $529.30 million compared to the $343.94 million average estimate based on eight analysts. The reported number represents a change of +64.3% year over year.
- Other revenue: $49.16 million versus the eight-analyst average estimate of $50.55 million. The reported number represents a year-over-year change of +103.5%.
- Net Revenue- Transaction revenue- Institutional, net: $36.70 million versus $20.98 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +174.5% change.
- Net Revenue- Transaction revenue- Consumer, net: $492.50 million versus $343.36 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +59.5% change.
- Net Revenue- Subscription and services- Other subscription and services: $46.50 million versus $33.23 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +74% change.
- Net Revenue- Subscription and services- Blockchain: $95.10 million versus the four-analyst average estimate of $80.75 million. The reported number represents a year-over-year change of +52.3%.
- Net Revenue- Subscription and services- Custodial fee: $19.70 million versus the four-analyst average estimate of $17.13 million. The reported number represents a year-over-year change of +72.2%.
- Net Revenue- Subscription and services- Interest income: $42.60 million compared to the $43.81 million average estimate based on three analysts. The reported number represents a change of -76.6% year over year.
Shares of Coinbase Global, Inc. have returned +19.8% over the past month versus the Zacks S&P 500 composite's +4.6% 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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