Record Revenue Growth

Coinbase Global Inc. announced a staggering 138% increase in its fourth-quarter revenue for fiscal 2024, reaching $2.3 billion. This remarkable growth not only surpassed analysts' expectations but also highlighted the company's strong performance in the cryptocurrency market.

Impressive Financial Milestones

The company's net income soared to $1.3 billion, marking a 369.6% increase from the previous year. Additionally, diluted earnings per share (EPS) experienced a significant rise, reaching $4.68, which is a 350% increase compared to the fourth quarter of 2023. For the entire fiscal year 2024, Coinbase's revenue grew by 111.2% to $6.6 billion, with diluted earnings per share skyrocketing by 2,462% to $9.48.

Global Crypto Market Expansion

Coinbase attributed its success to the growing interest and investment in cryptocurrency globally. "The Trump Administration is moving fast to fulfill its promise of making the US the crypto capital of the planet, and globally, leaders are taking notice and increasing their attention and investment into crypto," the company stated in its letter to shareholders.

Market Reaction

Following the earnings report, Coinbase shares saw a 1.82% increase in after-hours trading, with shares selling for $303.00 each at 4:21 pm ET.