Coinbase shares have turned a profit since 2021
Following a strong fourth-quarter earnings report in which the firm swung to profit and earnings that exceeded Wall Street expectations, Coinbase’s shares increased by over 12.5% after hours. Coinbase’s net revenue in the fourth quarter exceeded consensus estimates of around $825 million, rising 45.2% from the third quarter to $905 million. At the same time, the firm turned a profit for the first time since the fourth quarter of 2021, with a net income of $273 million. Coinbase reported a $2 million net loss for the prior quarter. With $529.3 million in revenue, transaction profit accounted for most of the