Coinbase Forecasts Point to Quarterly Loss, Stronger Next-Year Earnings

Zacks consensus estimates point to a loss for Coinbase Global in the current quarter, while forecasts for the next fiscal year have risen. The estimates offer a mixed outlook for the crypto exchange.

The consensus forecast calls for a quarterly loss of $0.22 per share, with revenue of $1.14 billion, down 39.2% from a year earlier. The earnings estimate rose 19.6% over the past 30 days.

For the current fiscal year, the consensus calls for a loss of $0.48 per share and revenue of $5.24 billion. Those estimates imply year-over-year declines of 111.9% and 27.1%, respectively, according to Zacks.

Next fiscal year’s earnings estimate is $3.13 per share, up 20.8% over the past month. The $6.61 billion revenue estimate is 26.3% higher than the expected figure for the prior year.

In its latest reported quarter, Coinbase posted $1.22 billion in revenue and a loss of $0.39 per share. Revenue was below the $1.3 billion consensus estimate, and the company beat earnings and revenue estimates just once each in the past four quarters.

Coinbase shares fell 1.8% over the past month, while the Zacks S&P 500 composite rose 0.6%. The Zacks Financial - Miscellaneous Services industry declined 5.2% over the same period.