Coinbase beats estimates with $2.5B net revenue in Q4 2021

Major US cryptocurrency exchange Coinbase has beaten analysts’ estimates after recording a $2.5 billion net revenue in the fourth quarter of 2021, financial reports revealed Thursday. The exchange has surpassed Refinitiv’s $1.9 billion estimates by 27%.

In addition to revenue, Coinbase has posted a spike in trading volume, monthly transacting users, and platform assets. Of the total trading volume of $547 billion, $177 billion came from individual investors and $371 billion from institutional investors. Meanwhile, the total transaction revenue for 2021 was $6.8 billion.

Monthly transaction users (MTUs) rose by 54% from 7.4 million in the third quarter to 11.4 million in the fourth quarter. Total verified users reached 89 million in the fourth quarter. Another key figure, Coinbase reported $3.32 in earnings per share, recording nearly double the analyst’s estimates of $1.85.

Despite positive growth, Coinbase’s share prices fell by 4.7% in post-market trading. In its report, the exchange warned investors that the outlook for 2022 is currently unpredictable due to several uncertainties.

In addition to market volatility, global macroeconomic headwinds, rising interest rates, inflation, and most recently, geopolitical instability may contribute to a sluggish Q1 2022. The exchange said it expects subscriptions and services revenue to be lower in the current quarter.

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