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Spoiler Alert – Coinbase Q4 2023 Revenue Estimates

Kunal Goel

Feb 13, 2024 ⋅  11 min read

We estimate Coinbase revenue for Q4 2023 to be $866 million, growing by 40% from Q3. Our estimate is much higher than the consensus expectation of $824 million. This growth is credited not just to higher crypto prices but also to Coinbase’s strong execution over the bear market. Even though volumes are similar to Q4 2022, we expect transaction revenue to be 50% higher.

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Kunal Goel

72 Reportskunalgoel

Kunal previously worked in equity research and now considers himself a financial analyst in crypto. He specializes in valuation and bottom-up analysis for Layer-1 and DeFi protocols because he has yet to learn of a way to value NFTs.

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About the author

Kunal Goel

Kunal previously worked in equity research and now considers himself a financial analyst in crypto. He specializes in valuation and bottom-up analysis for Layer-1 and DeFi protocols because he has yet to learn of a way to value NFTs.

72 Reportskunalgoel

Mentioned in this report