Crypto News – According to a statement from the firm, Coinbase exceeded analyst expectations with fourth-quarter revenue of $953.8 million, up 41% from the previous quarter.
A Record in Coinbase Transaction Revenues: $529 Million Trading Revenue Growth Exceeded Q4 Estimates
Comparing the fourth quarter of 2023 to the same period in the previous year, there was a corresponding 50% rise in revenue. A quarterly revenue of $826.1 million was expected by analysts, based on FactSet forecasts that Yahoo Finance reported.
In 2023, we saw our operational rigor pay off. We achieved our financial goal, launched new innovative products, strengthened our competitive position, and doubled down on our efforts to create momentum for a workable regulatory framework for crypto in the US.
Coinbase
Coinbase Achieved $273 Million in Net Income This Quarter
Additionally, Coinbase reported a net income of $273 million for the quarter, as opposed to a $557 million loss during the same time the previous year. During the quarter, $529.3 million in transaction revenue was also produced by the crypto trading platform. It is an increase from the third quarter’s $288.6 million.
Transaction revenue surged 83% Q/Q to $529 million, primarily driven by higher levels of volatility and crypto asset prices. We saw a sharp increase in crypto asset volatility … the increases were driven by a variety of factors, principally excitement around Bitcoin spot ETF approvals and broad expectations around improving macroeconomic conditions in 2024.
Coinbase
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