Coinbase Reports Q3 Net Income of $432.6M, Transaction Revenue Up 37% Quarter-Over-Quarter

Coinbase posted third-quarter net income of $432.6 million ($1.50 per share), exceeding the analyst consensus of $1.10 per share compiled by the London Stock Exchange Group, CNBC reported on October 31. Revenue reached $1.87 billion, surpassing the projected $1.8 billion, with transaction-related revenue climbing to $1 billion—a 37% increase from the second quarter. Consumer trading volume jumped 37% quarter-over-quarter to $59 billion, while institutional trading volume rose 22% to $236 billion, generating $135 million in institutional transaction revenue—a 122% quarterly gain. The exchange added 2,772 Bitcoin to its holdings, valued at approximately $299 million, and reported stablecoin revenue of $355 million with $15 billion in USDC held on its platform.