For the quarter ended September 2023, Coinbase Global, Inc. (COIN) reported revenue of $674.15 million, up 14.2% over the same period last year. EPS came in at -$0.01, compared to -$2.43 in the year-ago quarter.
The reported revenue represents a surprise of +2.67% over the Zacks Consensus Estimate of $656.61 million. With the consensus EPS estimate being -$0.54, the EPS surprise was +98.15%.
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.
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: $76 billion versus $81.41 billion estimated by six analysts on average.
- Trading Volume - Institutional: $65 billion versus $67.78 billion estimated by five analysts on average.
- Trading Volume - Retail: $11 billion versus the five-analyst average estimate of $12.19 billion.
- Monthly Transacting Users: 6.7 million versus 7.8 million estimated by four analysts on average.
- Net Revenue- Total Subscription and services: $334.43 million versus the seven-analyst average estimate of $319.52 million. The reported number represents a year-over-year change of +58.9%.
- Net Revenue- Transaction revenue: $288.58 million versus the seven-analyst average estimate of $291.70 million. The reported number represents a year-over-year change of -21.1%.
- Other revenue: $51.14 million versus the seven-analyst average estimate of $48.61 million. The reported number represents a year-over-year change of +266.3%.
- Net Revenue- Transaction revenue- Institutional: $14.07 million versus $14.71 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -28.9% change.
- Net Revenue- Transaction revenue- Retail, net: $274.51 million versus $264.31 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -20.7% change.
- Net Revenue- Subscription and services- Other subscription and services: $39.47 million compared to the $31.10 million average estimate based on four analysts. The reported number represents a change of +25.5% year over year.
- Net Revenue- Subscription and services- Interest income: $39.47 million compared to the $195.05 million average estimate based on four analysts. The reported number represents a change of -61.2% year over year.
- Net Revenue- Subscription and services- Blockchain: $74.46 million compared to the $81.38 million average estimate based on four analysts. The reported number represents a change of +18.7% year over year.
Shares of Coinbase Global, Inc. have returned +5.9% over the past month versus the Zacks S&P 500 composite's -1.1% 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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