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Coinbase Global Inc (NASDAQ: COIN) is trading up in extended hours after reporting better-than-expected earnings report for its fourth quarter.

This is a developing story. Numbers missing below will be updated as received!

Investors are cheering also because the management issued upbeat guidance for the future. Coinbase now forecasts its subscription and services revenue to fall between $410 million and $480 million in Q1.

Analysts, in comparison, were at million. Brian Armstrong – the chief executive of Coinbase Global said in a letter to shareholders today:

In 2024, Coinbase will focus on driving revenue through improving our core trading and USDC, driving utility in crypto with experiments in payments using USDC and Base, and continue to drive regulatory clarity for the industry.

The crypto exchange saw trading volume pop 164% (QoQ) to $29 billion in its recently concluded quarter. Wall Street currently has a consensus “hold” rating on $COIN.

Earned $273 million that translates to $1.14 per share

Had $557 million in loss last year ($2.46 per share)

Adjusted EBITDA printed at $305 million – up 69%

Revenue jumped 41% quarter-over-quarter to $954 million

Consensus was 2 cents a share on $731.9 million revenue

Coinbase ended the quarter with million monthly transacting users (MTUs) – a better-than-expected % annualised growth. CEO Armstrong also said on Thursday:

Coinbase is a fundamentally stronger company today than a year ago, and we are in a strong financial position to capitalize on the opportunities ahead.

This is a developing story. Check back in a few minutes for more updates!

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