Wall Street analysts expect Coinbase's Q1 financial report to fall short of expectations. On May 7, cryptocurrency exchange platform Coinbase (COIN) is set to announce its first-quarter financial report amid turbulent conditions. Wall Street institutional analysts predict that its performance will fall short of expectations, with weak retail trading potentially impacting the platform's most profitable business segments. According to FactSet data, the company is scheduled to release its quarterly report after the market closes on Thursday. Analysts predict that its earnings per share (EPS) will decline from $2.26 in the fourth quarter of last year to $1.93, with revenue dropping from $2.27 billion to $2.1 billion. This represents a significant decline compared to the same period last year, when EPS was $4.40 and revenue was $1.2 billion. The trading volume for the quarter is expected to reach $403.8 billion, down from $439 billion in the fourth quarter of last year. JPMorgan has lowered its EPS forecast to $1.59, noting that Coinbase's trading volume has shrunk by 10% and the total cryptocurrency market capitalization has fallen by 17%. Excluding the impact of cryptocurrency asset impairment, adjusted EPS could reach $2.39, benefiting from cost control and stable subscription revenue. $BTC
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.