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Seeking Alpha
2021-05-13 20:19:29

Coinbase stock falls 4.2% after Q1 earnings, revenue miss consensus estimates

In its first quarterly earnings results since its IPO, Coinbase Global (COIN) delivers Q1 earnings and revenue that trail the average analyst estimates.Q1 EPS of $3.05 vs. consensus estimate of $3.20.COIN stock drops 4.2% in after-hours trading.Q1 revenue of $1.60B misses the average analyst estimate of $1.82B; increases from $497M in Q4 2020 and $179M in Q1 2020.Total operating expenses of $813.4M increased from $358.5M in Q4 and $151.8M in Q1 2020; as a percentage of revenue, operating expenses fell to 51% from 72% the prior quarter and 85% in the year-ago quarter.Adjusted EBITDA of $1.12M matches the Visible Alpha consensus of $1.12B and increased from $288M in Q4 2020.Monthly transacting users of 6.1M vs. Visible Alpha consensus of 6.1M and up from 2.8M in Q4.Total trading volume of $335B jumped from $89B in the prior quarter; in the most recent quarter, trading $120B of trading volume was retail and $215B

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