Coinbase (COIN) Tops Expectations as Transaction Revenue Hits $1B

Coinbase posted a stronger-than-expected third quarter, reporting total revenue of $1.9 billion, a 58% increase year-over-year, largely fueled by transaction revenue hitting $1 billion, up significantly from $365 million a year prior. Trading volumes reached $295 billion, supported by renewed retail interest. The company achieved an adjusted EBITDA of $801 million and a net income of $433 million. Key highlights included the confirmation that its Layer 2 network, Base, became profitable in Q3 due to increased transactions and higher ETH prices. Furthermore, subscription and services revenue grew 14% quarter-over-quarter to $747 million, with stablecoin revenue contributing $355 million. While Coinbase warned about market volatility, it projected October transaction revenue around $385 million.

(Source：CoinDesk)