Coinbase announced its fourth-quarter and full-year earnings on Thursday afternoon, surpassing expectations and demonstrating remarkable growth across various metrics.
The company reported a net income of $579 million. Revenue reached $2.3 billion, exceeding estimates by approximately $430 million, and significantly increasing from $1.13 billion in the third quarter.
Fourth-quarter transaction revenue surged 172% quarter-over-quarter to $1.6 billion, a notable rise from $529 million in the same quarter the previous year.
For the full year, revenue totaled $6.6 billion, more than doubling the 2023 figure of $3.1 billion. Coinbase concluded the fourth quarter with $9.3 billion in USD resources, up from $8.2 billion reported the prior quarter.
