Following a strong fourth-quarter earnings report in which the firm swung to profit and earnings that exceeded Wall Street expectations, <a href="https://optimisus.com/news/crypto-news/coinbases-base-network-achieves-consistent-growth-reaching-734-million-in-total-value-locked/" rel="noopener noreferrer nofollow">Coinbase's shares</a> 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 firm's earnings. Of this, $493 million came from crypto trading, nearly doubling from the third quarter. At $36.7 million, institutional transaction profits more than doubled.  
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Consumer trading volume reached over $29 billion, a 164% increase in just one quarter. Additionally, the firm brought in $375.4 million from subscription and service fees, most of which came from blockchain rewards and stablecoins at $171.6 and $95.1 million, respectively.  
Coinbase's stock increased by 41.2% in the eight trading days leading up to the earnings release, as investors were expecting a solid financial result.  
This optimistic outlook was partially reinforced on February 15th by increased ratings from JPMorgan analysts. 
The post <a href="https://optimisus.com/news/fintech-news/coinbase-shares-have-turned-a-profit-since-2021/" rel="noopener noreferrer nofollow">Coinbase shares have turned a profit since 2021</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

Coinbase shares have turned a profit since 2021

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