Wall Street Analysts Expect Coinbase Q1 Earnings Report to Underperform

BlockBeats News, May 7th, Cryptocurrency exchange platform Coinbase (COIN) is about to release its first-quarter financial report against a backdrop of turbulence. Wall Street analysts expect its performance to fall short of expectations, and a sluggish retail trading activity may impact the platform's most profitable business segment.

According to FactSet data, the company is scheduled to release its quarterly report after Thursday's market close. Analysts predict its earnings per share (EPS) to decrease from $2.26 in the previous quarter to $1.93, with revenue sliding from $2.27 billion to $2.1 billion. This marks a significant retreat from the $4.40 EPS and $1.2 billion in revenue in the same period last year. Quarterly trading volume is expected to reach $403.8 billion, down from $439 billion in the previous quarter.

JPMorgan Chase has lowered its EPS forecast to $1.59, pointing out that Coinbase's quarterly trading volume declined by 10%, and the total cryptocurrency market capitalization fell by 17%. Excluding the impact of cryptocurrency asset impairment, and benefiting from cost control and stable subscription revenue, the adjusted EPS could reach $2.39.