Coinbase Q4 Earnings Highlights: Big Revenue Beat, Total Retail Trading Volume Of $177B

Coinbase Global Inc COIN reported fourth quarter and full fiscal year financial results Thursday afternoon. Here are the key highlights.

What Happened: Coinbase reported fourth-quarter revenue of $2.5 billion, beating a consensus estimate of $1.9 billion. Coinbase reported quarterly earnings of $3.32 per share.

For the full fiscal year, Coinbase reported revenue of $7.4 billion. Full-year trading volume was $1.67 trillion.

Total retail trading volume was $177 billion, up 90% quarter-over-quarter. Retail trading represented 32% of the company’s fourth-quarter trading volume. Institutional trading volume was $371 billion, up 59% from the third quarter.

The company ended the fiscal year with 11.4 million monthly transacting users. MTUs were up 54% from the third fiscal quarter. The company had 89 million verified users at the end of the fiscal year.

Bitcoin BTC/USD represented 16% of trading volume in the quarter and 24% in the full year. The crypto was 41% of trading volume in the previous full fiscal year.

Ethereum ETH/USD represented 16% of trading volume in the quarter and 21% in the full year, up from 15% in fiscal 2020. Other cryptos totaled 68% of trading volume in the fourth quarter and 55% for the full fiscal year.

Related Link: How Bitcoin, Other Cryptocurrencies Could Serve As Workaround For Russians Facing Global Sanctions

What’s Next: Coinbase said it has seen a decline in crypto trading volatility, leading to lower trading volume in the first quarter.

“We believe that retail MTU and trading volume will both be lower in Q1 2022 as compared to Q4 2021,” the company said.

For fiscal 2022, Coinbase sees monthly retail transacting users coming in a range of 5 million to 15 million.

“We enter 2022 with even more unknowns which make our business all the more difficult to forecast.”

The company said it will continue to position itself as a leader in Web3 applications. This includes the launch of the company’s upcoming NFT marketplace.

COIN Price Action: Coinbase shares are down 5% to $171.48 after hours.

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