Coinbase Q3 Revenue Climbs 55.1% to $1.87B; Q4 Expected to Fall 19.2%
Coinbase reported $1.87 billion in Q3 revenue, up 55.1% year-over-year and 4.5% above consensus, with monthly active users rising 19.2% to 9.3 million. Analysts forecast Q4 revenue will drop 19.2% YoY to $1.84 billion with $0.99 adjusted EPS, following three revenue misses in two years.
1. Q3 2025 Revenue and User Growth
Coinbase reported $1.87 billion in Q3 revenue, up 55.1% year-over-year and 4.5% above consensus estimates, while monthly active users increased 19.2% to 9.3 million.
2. Q4 2025 Outlook
Analysts forecast Q4 revenue of $1.84 billion, a 19.2% decline from last year, with adjusted earnings projected at $0.99 per share.
3. Analyst Estimates Stability and Track Record
Estimate revisions have been minimal over the past month, though Coinbase has missed revenue targets three times in the past two years, underscoring volatility in performance forecasts.
4. Peer Results and Market Sentiment
Robinhood delivered 26.5% revenue growth but missed estimates by 3.9%, while Electronic Arts topped expectations with 61.8% growth, as consumer internet stocks fell 17.3% on average and Coinbase shares lost 34.2%, trading well below the $327.98 average price target.