Coinbase Global Inc. revealed on Thursday that its revenue in the fourth quarter of fiscal 2024 reached $2.3 billion, jumping by 138% compared to the same period in the previous year, beating the analysts' expectations.
The company's net income came in at $1.3 billion in the reported quarter, surging by 369.6% year-on-year, while the diluted earnings per share (EPS) rose by 350% from the fourth quarter in 2023 to $4.68. For full fiscal 2024, the company's revenue grew by 111.2% to $6.6 billion, while the diluted earnings per share soared by 2,462% to $9.48.
"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 said in the letter to shareholders.
Coinbase shares advanced by 1.82% in after-hours trading after the earnings report's release, selling for $303.00 apiece at 4:21 pm ET.
