The US Crypto Exchange Coinbase shares jumped over 8% on Thursday after the company earned a strong-to-the-off Q4 after jumping more than 8%.
The Cryptocurrency Exchange Coinbase saw its shares rose 8.44% on Thursday, 13 February at $ 298.11 after reporting their strongest quarterly revenue in three years.
According to its Q4 2024 Earning reportCoinbase produced revenue by $ 2.3 billion, growing up to 138% from 2023, defeating an estimate of $ 1.88 billion with LSEG analysts. The net income was $ 1.3 billion, while the income per share came in $ 4.68, both crossing $ 2.11 Forecast By factset and $ 1.81 expected By LSEG.
The exchange states that its growth was due to increasing trade activity and change in regulatory landscape.
“Zoom out, the last few months have demonstrated a maritime change in the regulatory environment, unlocating new opportunities for the coinbase and crypto industry.”
coincidence
From the previous quarter, the transaction revenue increased by $ 1.6 billion, while the revenue of membership and services increased to $ 641 million.
The coinbase is excited about its future, calling the latest regulatory changes under the Trump administration “Morning of a new era for crypto”. The company says it will double on what is on stabelcoin adoption, to increase its layer -2 network base and expand the crypto payment, what is on the “building”, what is on the building. ,
“At the same time you will see us working hard to bring more people through products such as our major layer 2 platform base, smartwelllet and coinbase developer platforms.”
coincidence
Nevertheless, challenges remain. The StableCoin transaction fee dropped 9% quarter-over-quarter to $ 226 million, but the coinbase says that partnerships and new products will help balance things. With a large Q4 behind it, the company further sees a “unprecedented opportunity” – if market conditions and rules remain favorable.
