Reported Q: Q2 2024 Rev YoY: +94.9% EPS YoY: +135.7% Move: +1.29%
Coinbase Global Inc
COIN
$167.25 1.29%
Exchange NASDAQ Sector Financial Services Industry Financial Data Stock Exchanges
Q2 2024
Published: Aug 1, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for COIN

Reported

Report Date

Aug 1, 2024

Quarter Q2 2024

Revenue

1.38B

YoY: +94.9%

EPS

0.14

YoY: +135.7%

Market Move

+1.29%

Previous quarter: Q1 2024

Follow this company to get upcoming quarter alerts automatically.

Earnings Highlights

  • Revenue of $1.38B up 94.9% year-over-year
  • EPS of $0.14 increased by 135.7% from previous year
  • Gross margin of 86.1%
  • Net income of 36.15M
  • "Brian Armstrong, CEO, stated: 'Our strategic goal is not just to lead as an asset trading platform, but to be the foundation for a new economic ecosystem known as Web3.'" - Brian Armstrong
COIN
Coinbase Global Inc

Executive Summary

In Q2 2024, Coinbase Global Inc reported robust financial results, showcasing a total revenue of $1.4 billion, reflecting a year-over-year growth of 94.93%. Despite a slight quarter-over-quarter decline of 4.81% in revenue, management expressed confidence in their diversified revenue streams and disciplined expense management. The adjusted EBITDA stood at $596 million, marking the sixth consecutive quarter of positive adjusted EBITDA, illustrating management's successful navigation of fluctuating market conditions. Significant customer engagement initiatives and substantial investment in regulatory advocacy have positioned Coinbase favorably for future growth among rising global crypto adoption. CEO Brian Armstrong emphasized, 'Coinbase is now an all-weather company with increasingly diversified revenue streams,' highlighting the firm's commitment to long-term value creation for shareholders.

Key Performance Indicators

Revenue
Increasing
1.38B
QoQ: -4.81% | YoY: 94.93%
Gross Profit
Increasing
1.19B
86.12% margin
QoQ: -5.54% | YoY: 98.17%
Operating Income
Increasing
343.12M
QoQ: -54.88% | YoY: 566.35%
Net Income
Increasing
36.15M
QoQ: -96.93% | YoY: 137.11%
EPS
Increasing
0.15
QoQ: -96.90% | YoY: 135.71%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 2,034.30 0.24 +40.3% View
Q4 2024 2,271.64 4.67 +138.2% View
Q3 2024 1,128.60 0.28 +67.4% View
Q2 2024 1,379.94 0.14 +94.9% View
Q1 2024 1,449.63 4.40 +87.7% View