Focus Fintech: Coinbase Q1 Surges with $1.64B Revenue, Beating Initial Expectations

Focus Fintech

Coinbase Q1 Surges with $1.64B Revenue, Beating Initial Expectations (4 minutes read)

Coinbase displayed strong Q1 performance with better-than-expected revenue of $1.64 billion against an estimated $1.34 billion. Net income reached $1.18 billion compared to a loss of $78.9 million a year earlier. A contributing factor to the profits was a $650 million gain on crypto assets in line with updated accounting standards. Consumer transaction revenue rose over 100% to $935 million. Coinbase also benefited from partnerships with new U.S. spot bitcoin ETFs which collectively brought in $50 billion during Q1.

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