According to BlockBeats, on May 7, cryptocurrency trading platform Coinbase (COIN) is set to release its first-quarter financial report amid turbulent conditions. Wall Street analysts expect its performance to fall short of expectations, with sluggish 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 its earnings per share (EPS) will drop from $2.26 in the fourth quarter of last year to $1.93, with revenue declining from $2.27 billion to $2.1 billion. This represents a significant decline compared to EPS of $4.40 and revenue of $1.2 billion in the same period last year. The trading volume for the quarter is expected to reach $403.8 billion, down from $439 billion in the fourth quarter of last year.
J.P. Morgan has lowered its EPS forecast to $1.59, noting that Coinbase's trading volume shrank 10% during the quarter, and the total market capitalization of cryptocurrencies fell by 17%. Excluding the impact of impairment on crypto assets, adjusted EPS could reach $2.39, benefiting from cost control and stable subscription revenue.