Coinbase Global, Inc. (NASDAQ:COIN) Earnings Preview: Key Insights

Coinbase Global, Inc. (NASDAQ:COIN) is a leading cryptocurrency exchange platform, facilitating the buying, selling, and storage of digital currencies. As a major player in the crypto market, Coinbase competes with other exchanges like Binance and Kraken. The company is set to release its second-quarter earnings on July 31, 2025, after market close, with Wall Street estimating earnings per share (EPS) of $0.83 and projected revenue of approximately $1.59 billion.

Coinbase's upcoming earnings report is anticipated to reflect a strong performance, driven by increased trading volume and the growth of stablecoins. The company has also expanded its revenue streams through the acquisition of Deribit. Trading volume is estimated at 235 million, with transaction revenues expected to rise by 23% compared to the previous year. This growth is likely to support the projected revenue figures.

The Zacks Consensus Estimate for COIN’s second-quarter revenues is set at $1.5 billion, marking a 4.3% increase from the same period last year. However, the consensus estimate for earnings is pegged at $0.83 per share, reflecting a year-over-year decrease of 22.4%. Despite this, the earnings estimate has been revised upward by 1 cent in the past week, indicating a positive outlook. Bank of America has adjusted its revenue estimates for Coinbase, predicting a total net revenue of $1.44 billion for the June quarter, which is approximately 6% below the consensus estimate of $1.54 billion. The bank has maintained its “Hold” rating on Coinbase, while increasing its price target from $260 to $405. Analysts at the bank predict a 40% decline in retail trading volumes quarter-over-quarter, which may impact earnings.

Coinbase's financial metrics reveal a price-to-earnings (P/E) ratio of approximately 64.22, indicating that investors are willing to pay over 64 times the company's earnings over the past twelve months. The company's debt-to-equity ratio is about 0.41, showing a moderate level of debt compared to its equity. Additionally, the current ratio is approximately 2.52, suggesting good short-term financial health.