Coinbase Reports $2.2 Billion Net Revenue in Q4, Up 143% Year Over Year
Coinbase reported strong quarterly results with a net revenue of $2.2 billion, up 143% year-over-year, exceeding analyst expectations by $305 million. Key highlights include:
- Transaction revenue reached nearly $1.6 billion, a 172% increase from the previous quarter
- Subscription and services revenue grew 15% to $641 million
- Increased retail participation indicated a return of consumer interest in crypto
- 2025 transaction revenue is already at $750 million as of February 11
- Forecast for Q1 subscription and services revenue is between $685 million and $765 million
Despite a 7% drop in COIN's stock price to around $278, analysts remain optimistic. Oppenheimer sets a price target of $388, while Bitwise predicts the stock could exceed $700, citing growth in stablecoin business and services.
CEO Brian Armstrong highlighted the potential for significant global adoption of crypto, with estimates suggesting that up to 10% of global GDP could be on crypto rails by the end of the decade. Coinbase is actively engaging with regulators to shape US crypto policy.
Analysts estimate a 75% chance for the passing of a stablecoin bill and a 60% chance for a digital asset market structure bill in Congress.