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Compared to Estimates, Coinbase Global, Inc. (COIN) Q2 Earnings: A Look at Key Metrics
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Coinbase Global, Inc. (COIN - Free Report) reported $707.9 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 12.4%. EPS of -$0.42 for the same period compares to -$4.95 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $639.78 million, representing a surprise of +10.65%. The company delivered an EPS surprise of +46.15%, with the consensus EPS estimate being -$0.78.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Coinbase Global, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Trading Volume: $92 billion versus $109 billion estimated by six analysts on average.
Trading Volume - Institutional: $78 billion compared to the $94.7 billion average estimate based on five analysts.
Trading Volume - Retail: $14 billion versus the five-analyst average estimate of $17.5 billion.
Monthly Transacting Users: 7.3 million compared to the 8.04 million average estimate based on five analysts.
Net Revenue- Total Subscription and services: $335.40 million versus the eight-analyst average estimate of $314.13 million.
Net Revenue- Transaction revenue: $327.10 million versus $302.45 million estimated by eight analysts on average.
Other revenue: $45.41 million versus the eight-analyst average estimate of $26.85 million. The reported number represents a year-over-year change of +693.6%.
Net Revenue- Transaction revenue- Institutional: $17.06 million versus $16.94 million estimated by five analysts on average.
Net Revenue- Transaction revenue- Retail, net: $310.04 million versus the five-analyst average estimate of $291.83 million.
Net Revenue- Subscription and services- Other subscription and services: $29.43 million versus $33.36 million estimated by four analysts on average.
Net Revenue- Subscription and services- Interest income: $201.36 million versus the four-analyst average estimate of $179.24 million.
Net Revenue- Subscription and services- Blockchain: $87.61 million versus $79.09 million estimated by four analysts on average.
Shares of Coinbase Global, Inc. have returned +15.4% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Coinbase Global, Inc. (COIN) Q2 Earnings: A Look at Key Metrics
Coinbase Global, Inc. (COIN - Free Report) reported $707.9 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 12.4%. EPS of -$0.42 for the same period compares to -$4.95 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $639.78 million, representing a surprise of +10.65%. The company delivered an EPS surprise of +46.15%, with the consensus EPS estimate being -$0.78.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Coinbase Global, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Trading Volume: $92 billion versus $109 billion estimated by six analysts on average.
- Trading Volume - Institutional: $78 billion compared to the $94.7 billion average estimate based on five analysts.
- Trading Volume - Retail: $14 billion versus the five-analyst average estimate of $17.5 billion.
- Monthly Transacting Users: 7.3 million compared to the 8.04 million average estimate based on five analysts.
- Net Revenue- Total Subscription and services: $335.40 million versus the eight-analyst average estimate of $314.13 million.
- Net Revenue- Transaction revenue: $327.10 million versus $302.45 million estimated by eight analysts on average.
- Other revenue: $45.41 million versus the eight-analyst average estimate of $26.85 million. The reported number represents a year-over-year change of +693.6%.
- Net Revenue- Transaction revenue- Institutional: $17.06 million versus $16.94 million estimated by five analysts on average.
- Net Revenue- Transaction revenue- Retail, net: $310.04 million versus the five-analyst average estimate of $291.83 million.
- Net Revenue- Subscription and services- Other subscription and services: $29.43 million versus $33.36 million estimated by four analysts on average.
- Net Revenue- Subscription and services- Interest income: $201.36 million versus the four-analyst average estimate of $179.24 million.
- Net Revenue- Subscription and services- Blockchain: $87.61 million versus $79.09 million estimated by four analysts on average.
View all Key Company Metrics for Coinbase Global, Inc. here>>>Shares of Coinbase Global, Inc. have returned +15.4% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.