From Nasdaq
May 09, 2025 11:01 am:

Coinbase Global, Inc. (COIN) reported Q1 2025 net earnings per share of $1.94, beating estimates by 4.9%. Quarterly results saw a 17.6% increase year over year, driven by higher revenues and crypto asset prices. Total trading volume rose 26% to $393 million. Revenues hit $2 billion, up 24% from last year.

Total transaction revenues for COIN increased by 18.2% to $1.3 billion in Q1 2025, with subscription and services revenues climbing by 36.3% to $698.1 million. Adjusted EBITDA was $929.9 million, falling 8.3% year over year. COIN expects subscription and services revenues to range between $600-$680 million in Q2 2025.

COIN’s Q1 2025 financial update shows cash and cash equivalents at $8.1 billion, long-term debt at $4.2 billion, and shareholders’ equity at $10.7 billion. The company projects expenses in Q2 to range from $700-$750 million for technology and development, and $215-$315 million for sales and marketing. Coinbase anticipates transaction expenses to be in the mid-to-high teens as a percentage of net revenues.

In comparison, Bread Financial Holdings (BFH) reported operating income of $2.86 per share, exceeding estimates by 36.2% in Q1 2025. American Express Company (AXP) saw earnings per share of $3.64, surpassing estimates by 5.5%. Virtu Financial, Inc. (VIRT) reported adjusted EPS of $1.30, beating estimates by 9.2%. American Express expects an 8-10% revenue increase in 2025, while Virtu Financial’s adjusted EBITDA climbed 57.7% to $319.9 million.

Read more at Nasdaq: Coinbase Q1 Earnings Beat, Revenues Miss Estimates, Volumes Rise Y/Y