Coinbase Q3 Earnings Preview: Volume and Subscription Growth
Coinbase Q3 earnings preview highlights a scheduled earnings release on October 30 after market close. Analysts forecast EPS of $1.19 and revenue of $1.81 billion, up 49.6% year-on-year. This Coinbase Q3 earnings preview notes revenue drivers from higher crypto prices, institutional staking and custody fees, and a paper gain from Circle’s USDC holdings.
Trading volumes have slid, raising downside risks if volume remains weak. Monthly transacting users may exceed 8.5 million, signaling renewed retail interest. Traders should watch daily volume and inflows into newly launched US Bitcoin and Ethereum ETPs, which are boosting institutional adoption.
Subscription and services revenue, including staking and custody, is growing strongly and diversifies income beyond trading fees. However, reliance on transaction fees and gains from Circle exposure adds volatility to earnings.
Key risks include volatile trading volumes and unrealized gains from Circle’s USDC stake. A strong rebound in volumes or higher ETP inflows could drive a bullish surprise, while continued volume weakness may pressure Coinbase Q3 earnings. Traders should focus on volume metrics and ETP flows for market signals.
Neutral
While analysts forecast strong revenue and EPS growth for Coinbase Q3 earnings, sliding trading volumes and dependence on transaction fees pose near-term risks. Subscription and services revenue along with institutional ETP inflows offer diversification and potential support to earnings. This balanced mix of upside from subscription growth and downside from volume volatility suggests a neutral impact, with short-term price movements likely driven by volume and ETP flow data, and longer-term stability hinging on sustained services growth.