Coinbase Q1 Revenue Hit $1.6 Billion Amid ETF Approvals, Surging 72%

Coinbase, the largest U.S. crypto exchange, has released its Q1 2024 earnings report, posting a total revenue of $1.6 billion, a 72% increase quarter on quarter.

The performance has been driven by the rising crypto asset prices and the launch of spot Bitcoin ETFs in the U.S. which further improved inflows into the market.

Coinbase Earnings Surged in Q1

Coinbase’s net income reached $1.18 billion, $4.40 per share, translating to $1 billion in adjusted EBITDA in Q1. Comparatively, the adjusted EBITDA, which shows earnings before tax, depreciation, interest, and amortization, was $977.5 million in 2023.

Our Q1 2024 earnings report just dropped onchain.

Mint the latest $COIN Earnings NFT.
→ https://t.co/QhsV4V8Tyi

Then, head to coinbaseshop․com to unlock 20% off sitewide. pic.twitter.com/ngwChcmtJs

— Coinbase Read More