Investors' Expectations Finally Met as Coinbase, the Cryptocurrency Trading Platform, Presented its Fourth Quarter Financials After Market Close on Thursday. The report showed a pleasing development, which was primarily observed on the revenue side. With revenues of 954.8 million US dollars, Coinbase significantly exceeded analysts' expectations, who had previously forecast only 826.1 million US dollars.

On the profit side, Coinbase also scored points, achieving an EPS (earnings per share) of $1.04 in the fourth quarter of 2023, while a loss of $2.460 per share was recorded in the previous year. Analysts had previously expected only a profit of $0.022 per share, thus the actual figures significantly exceeded expectations.

Even on an annual basis, Coinbase managed to impress as it reported a profit for the first time in the fiscal year 2023, with earnings of $0.40 per share, after having registered a loss of $11.810 per share in the previous year. Here too, the expectations of analysts (a loss of $0.762 per share) were significantly exceeded.

However, Coinbase fell short of revenue expectations. While analysts had forecast total annual revenue of $2.96 billion, the company only generated $2.927 billion. Nevertheless, this is a significant increase compared to the previous year ($3.19 billion).

The news of the positive figures already drew attention in the pre-market trading and temporarily drove the Coinbase stock up by 13.59 percent. Currently, the stock is trading on the NASDAQ at 188.18 US dollars.

The result of the fourth quarter and the entire fiscal year 2023 shows that Coinbase continues to hold a strong position in the cryptocurrency market and is perceived positively by investors and analysts. The future prospects are promising and suggest further successes.