Cryptocurrency exchange, Coinbase Q2 Earnings: Bitcoin break-out, User growth

Seeking Alpha2021-08-10
  • Three-months into its public debut, Coinbase Global, Inc. is scheduled to announce Q2 earnings results on Tuesday, August 10th, after market close.
  • The consensus EPS Estimate is $2.57 and the consensus Revenue Estimate is $1.83B.
  • CNBC cites Blue Line Capital founder and President Bill Baruch, "I think their user growth is going to exceed verified users of 60M, and I think that's going to be sort of a benchmark that they're going to continue to feed on. Trading activity's where they get paid as well. I think that's going to pick up" even if major crypto assets such as bitcoin or ethereum struggle."
  • Results from the quarter are seen higher from the world's second largest cryptocurrency exchange by volume despite bitcoin plunging $30K lower in Q2.
  • Over the last 3 months, EPS estimates have seen 4 upward revisions and 0 downward. Revenue estimates have seen 6 upward revisions and 0 downward.
  • The company's stock price is trading 6.7% higher in trading session today as price of bitcoin has broken out to a multi-month high of $45.8K.
  • SA Contributor Brian Gilmartin, CFA has provided an in-depth analysis on Coinbase Earnings indicating to watch out the 2022 EPS and Revenue Estimates.
  • With a Bullish rating, SA Contributor The Asian Investor indicates that the stock is a buy based on growth and valuation.
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