TechFlow news — Coinbase Global Inc. reported its financial results for the fourth quarter of 2023 after market close on Thursday, marking its first quarterly profit in two years. Coinbase generated $953.8 million in revenue during the fourth quarter of 2023, a 41% increase from the previous quarter and approximately 50% higher year-over-year. Net income for the quarter reached $273 million, compared to a net loss of $557 million in the same period last year.
Compared to the previous quarter, Coinbase's subscription revenue grew by 78%, while operating expenses decreased by $2.6 billion. Full-year revenue amounted to $3.1 billion.
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