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Coinbase Q4 2024 revenue beats forecast by 23% reaching $2.3 billion

Coinbase Q4 2024 revenue beats forecast by 23% reaching $2.3 billion

Photo: Michael Nagle

Strategic initiatives and rising digital asset prices boost Coinbase's fourth-quarter earnings significantly.

by Germán Frers

2 min read

In Crypto

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Coinbase reported fourth-quarter revenue of $2.3 billion, exceeding analyst estimates by 23% and marking an 88% increase from the previous quarter.

Transaction revenue surged 172% to $1.6 billion, while subscription and services revenue grew 15% to $641 million, according to the company’s Q4 2024 shareholder letter.

The crypto exchange operator’s performance was driven by rising digital asset prices and increased adoption of its services, including staking, custody, and USDC assets.

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The company also saw growth in its Coinbase One subscriber base.

For the full year 2024, Coinbase more than doubled its total revenue to $6.6 billion and recorded a net income of $2.6 billion.

The company reported $3.3 billion in Adjusted EBITDA and maintained $9.3 billion in USD resources at year-end.

The results reflect heightened trading activity across centralized exchanges during the quarter, coinciding with price appreciation in Bitcoin and Ethereum.

Coinbase’s strategic initiatives, including product adoption across Base, Coinbase One, Prime Financing, and international expansion, contributed to revenue diversification.

Earlier in 2024, Coinbase reported $1.64 billion in Q1 revenue, surpassing expectations with a significant increase in consumer transaction revenue.

In 2024 Q2, Coinbase reported $1.4 billion in revenue, beating estimates despite lower profits, reflecting the volatility of the crypto market and the growing importance of regulatory clarity for the industry.

Coinbase Global, Inc. and its peers

Company PriceMarket capP/E (trailing)Forward P/EAnnual revenue (USD)Annual revenue growthAnnual net income (USD)Operating margin
Coinbase Global, Inc. COIN · Price dated Nov 6, 2026 · tokenized COINx $135$35.7BNot meaningfulLoss, diluted EPS −2.53
to 2026-09-30 · SEC filing		Unavailable$7.2BFY ended 2025-12-31 · 10-K+9.4%FY ended 2025-12-31 vs 2024-12-31 · 10-K1,260,327,000FY ended 2025-12-31, attributable to the company · 10-K20.0%FY ended 2025-12-31
Strategy Inc MSTR · Price dated Nov 6, 2026 · tokenized MSTRx $129UnavailableNot meaningfulLoss, diluted EPS −49.21
to 2026-09-30 · SEC filing		Unavailable$477.2MFY ended 2025-12-31 · 10-K+3.0%FY ended 2025-12-31 vs 2024-12-31 · 10-K−3,848,152,000FY ended 2025-12-31, attributable to the company · 10-K−1,140.8%FY ended 2025-12-31
Circle Internet Group, Inc. CRCL · Price dated Nov 6, 2026 · tokenized CRCLx $68Unavailable29.3Unavailable$2.7BFY ended 2025-12-31 · 10-K+63.9%FY ended 2025-12-31 vs 2024-12-31 · 10-K−69,508,000FY ended 2025-12-31, attributable to the company · 10-K−3.5%FY ended 2025-12-31
Bitmine Immersion Technologies, Inc. BMNR · Price dated Nov 6, 2026 · tokenized BMNRx $19$11.3BNot meaningfulLoss, diluted EPS −4.50
to 2026-05-31 · SEC filing		Unavailable$6.1MFY ended 2025-08-31 · 10-K+84.1%FY ended 2025-08-31 vs 2024-08-31 · 10-K348,577,000FY ended 2025-08-31, attributable to the company · 10-K7,288.1%FY ended 2025-08-31

Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.

Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Nov 6, 2026, 8:26 PM EST. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.

Disclosure: This article was edited by Germán Frers. For more information on how we create and review content, see our Editorial Policy.

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