Reported 5 days ago
Coinbase exceeded fourth-quarter profit estimates, reporting earnings of $4.68 per share, significantly higher than the anticipated $1.81, thanks to increased trading volumes in bitcoin and other cryptocurrencies following the U.S. election. The firm experienced a major boost with bitcoin surpassing $100,000, driven by crypto-friendly expectations under Donald Trump's administration, while total revenue reached $2.3 billion, up from $953.8 million a year earlier. With intensifying competition from rivals like Robinhood, Coinbase aims to expand its services to retain market share.
Source: YAHOO