Coinbase posts $719 million Q3 profit driven by crypto holdings
ITF Team1 min read
Coinbase reported a $719 million net income in Q3, largely from gains on its own crypto assets, while revenue stayed flat at $1.22 billion.
Coinbase announced third‑quarter net income of $719 million, or $2.51 per diluted share, ending a two‑quarter losing streak. About $715 million of the profit came from appreciation of crypto assets held on its balance sheet, while adjusted net income, which excludes those gains, was $78 million.
Revenue and transaction performance
Total revenue held steady at $1.22 billion, matching analysts’ expectations but down 35 % year‑on‑year. Transaction revenue slipped 1 % to $590 million, still beating the $527 million consensus as overall market trading volumes remained low.
Fast‑growing prediction markets
Prediction markets generated more than $200 million in annualized revenue, becoming one of Coinbase’s fastest‑growing lines. Daily active traders rose over 60 % from the prior quarter, and the product’s revenue has compounded 82 % each quarter since launch, according to CEO Brian Armstrong.
What traders are watching next
- Whether the $200 million‑plus prediction‑market revenue can sustain as crypto volatility stays low
- Upcoming guidance on adjusted expenses for 2026, now projected at $4.15‑$4.30 billion
- Fourth‑quarter transaction revenue trends, currently around $165 million
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This article is compiled from international market news for information only. It is not investment advice.