Coinbase Global Q4 Revenue Falls 21.6% to $1.78B, EPS Misses by 28%
Coinbase Global reported Q4 revenue of $1.78 billion, down 21.6% year-over-year, missing the $1.79 billion consensus and marking a 5% sequential decline. Adjusted EPS of $0.66 fell 28% below forecasts even as total trading volume surged to $296 billion, topping estimates.
1. Q4 Earnings Miss
Coinbase Global reported revenue of $1.78 billion for Q4, a 21.6% decline year-over-year and shy of the $1.79 billion consensus, while adjusted EPS of $0.66 missed the $0.92 estimate by 28%.
2. Trading Volume Outperforms
Total trading volume reached $296 billion, topping the $279.23 billion average estimate, though Monthly Transacting Users fell to 9.2 million versus expectations of 9.37 million.
3. Service Revenue Breakdown
Subscription and services revenue rose 13.5% year-over-year to $727.4 million, but transaction revenue slid 36.8% to $982.7 million, both under analyst projections.
4. Q1 Guidance
Management forecasted subscription and services revenue of $550 million to $630 million for Q1, below recent quarterly run rates, and disclosed transaction revenue of $420 million through February 10.