Coinbase’s Q4 financial report vastly exceeded market expectations Thursday, after the firm posted $2.5 billion in net revenue for the quarter, beating analyst predictions by 27%.
FactSet consensus had forecasted Coinbase (NASDAQ:COIN) to generate approximately $1.9 billion in revenue for the period. Notably, the popular crypto exchange more than doubled transaction revenue from Q3 to Q4, generating 91% ($2.276 billion) of its total Q4 revenue from transactions alone.