Coinbase Stock Draws Retail Cheer After Q4 Revenue Shatters Wall Street Estimates, Net Income Nearly Quintuples

Coinbase Global Inc (COIN) shares drew retail attention on Friday after the company reported better-than-expected fourth-quarter earnings led by the rally in cryptocurrencies following Donald Trump’s victory in the U.S. Presidential elections.

Revenue rose 138% year-over-year (YoY) to $2.27 billion during the quarter, beating a Wall Street estimate of $1.84 billion. Earnings per share (EPS) came in at $4.68 versus an analyst estimate of $2.04, according to FinChat data.

Net income nearly quintupled to $1.29 billion during the quarter, including $476 million in pre-tax gains on the company’s crypto asset investment portfolio – the vast majority of which were unrealized – as crypto prices were higher on Dec. 31, 2024 as compared to Sept. 30, 2024.

Total trading volume rose to $439 billion compared to $154 billion in the same quarter a year ago. Of this, consumer trading volume accounted for $94 billion, while institutional trading volume came in at $345 billion.

Coinbase explained that the majority of the YoY growth in trading volume was driven by higher levels of crypto asset volatility—particularly in Q1 and Q4—as well as higher average crypto asset prices.

“The two primary factors underpinning these stronger macroeconomic factors were the launch of the Bitcoin ETF products in Q1’24, and the election of a pro-crypto President and Congress in Q4’24 and the associated expectation of regulatory clarity—both of which resulted in elevated spot crypto trading activity,” it said.

Coinbase also noted that it is actively engaging with regulators and legislators to help shape crypto regulation in the US and remains confident that stablecoin and market structure legislation will pass.

“We believe the opportunity in front of us right now is unprecedented and that we are well positioned to meet the moment,” the company stated in the shareholder letter.

On Stocktwits, retail sentiment climbed further into the ‘extremely bullish’ territory (89/100) accompanied by high retail chatter.

Most retail chatter on Stocktwits reflected a positive take on the stock.

Coinbase shares closed over 8% higher on Thursday. The stock has risen nearly 16% in 2025 and has gained over 85% over the past year.

Also See: Moody’s Stock Hits Record High On Upbeat Q4 Earnings, 2025 Guidance: Retail Excitement Shoots Through The Roof

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