Coinbase’s Earnings Report: What to Expect
Later today, Coinbase, the American crypto giant, will report its fourth-quarter and full-year 2022 results. Given the continued turbulence in the cryptocurrency market and a rough doubling in the value of Coinbase’s stock since the December timeframe, TechCrunch has long awaited this particular set of data.
The Importance of Coinbase’s Earnings Report
Coinbase is no longer a startup; it’s a goliath in one of the largest web3 markets. That means its results will help us understand the American crypto market more generally, both in terms of the company’s historical results through the end of last year (how things went) and how the company details its expectations for this year to the investing public (what’s ahead).
Enterprise Blockchain Adoption May Grow as Hybrid Use Cases Evolve
Investors have recently taken a shine to Coinbase shares after bidding their value down sharply in 2022; after trading to the low $30s last December, the company’s stock has recovered to the mid-$60s today. That’s a comeback worth billions in market cap. Startups might view the recovery in Coinbase’s worth as a positive harbinger for their own value. We’ll see.
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Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday. Ahead of the new data, let’s take a minute to put the coming earnings report into context. There are three key questions that we want to have answered by the time we log off today:
- How quickly is Coinbase growing its non-trading revenues?
- How well is Coinbase holding up its transaction revenue take rate?
- What does the company expect for this year’s performance?
Coinbase’s Revenue Streams
Coinbase has historically generated most of its revenues from trading, and we know that consumer trading is the key to that income pillar. Seeing a competing American trading company post encouraging trading data is well, encouraging. Perhaps Coinbase will have some good news to report concerning the start of its year. If so, it could be a signal that consumer activity, moribund due to a prevailing crypto winter, is picking back up.
The Impact on Smaller Crypto Companies
For smaller crypto companies with slimmer cash balances, it could be downright manna. More to come at the end of trading today when we get the new information.
Topics Covered:
- Coinbase
- Crypto
- EC Blockchain
- EC Cryptocurrency
- EC Market Analysis
- Robinhood
- The Exchange
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