Coinbase Global (COIN) Q3 2026 Earnings Report
MX:COIN Q3 2026 EPS Results
- Actual EPS
- MXN 47.15
- Consensus EPS
- -MXN 4.32
- Beat/Miss
- Beat by +MXN 51.47
- One Year Ago EPS
- MXN 28.18
MX:COIN Q3 2026 Revenue Results
- Actual Revenue
- MXN 23.50B
- Expected Revenue
- MXN 22.84B
- Beat/Miss
- Beat by +MXN 664.67M
- YoY Revenue Growth
- -14.80%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/29/2026
- Time
- After Close
- Conference Call
- Thursday, October 29, 2026
MX:COIN Upcoming Earnings
Coinbase Global's next earnings date is estimated for February 18, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:COIN Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly optimistic. Coinbase highlighted significant progress in revenue diversification, stablecoin adoption, AI-enabled finance, tokenized equities, derivatives integration, and regulatory conditions. The main negatives were the 10% quarter-over-quarter decline in spot trading volume, flat total revenue, the still-small absolute scale of agentic trading, and longer-term quantum-security and liquidity-development challenges.
Company Guidance
Management said prediction markets crossed $200 million of annualized run rate revenue in the third quarter, while overall crypto spot trading volume was down 10% quarter-over-quarter and revenue was flat quarter-over-quarter; predictions plus derivatives were about 25% of total transaction revenue, subscription services was roughly 49% of total net revenues, Coinbase captures about 50% of the overall economics of USDC and holds about 30% of total USDC in circulation, and total assets on its platform have grown for 5 sequential quarters. Agentic trading volume is growing something like 20% week-over-week, tokenized Coinbase equity trading volume has reached $3 billion since launch for non-U.S. customers, and Brian Armstrong said his focus will shift much more to customers and products in 2027.
- Bitcoin Holdings and Institutional AdoptionCoinbase said it had purchased its 18,000th bitcoin for its balance sheet. Executives also said trading volumes were rebounding, more institutions were onboarding, and Bitcoin ETF inflows were significant during the quarter.
- Bitcoin Utility as CollateralThe company said Bitcoin's use as collateral is improving liquidity for trading, including decentralized exchange trading. Base's financing product has grown as customers use Bitcoin as collateral to obtain financing and conduct additional trading.
- Prediction Markets Reached $200 Million Annualized RevenuePrediction markets, launched in February 2026, crossed $200 million of annualized run-rate revenue during the third quarter. Growth in prediction markets offset the decline in overall spot trading and contributed to flat quarter-over-quarter revenue.
- Revenue Diversification ContinuedPrediction markets and derivatives together represented about 25% of total transaction revenue, while subscription services represented roughly 49% of total net revenue. Coinbase said prediction markets and derivatives were additive to its product offering rather than cannibalizing spot trading.
- Stablecoin Usage Reached All-Time HighsCoinbase reported all-time highs in USDC usage on its platform. The company captures about 50% of the overall economics of USDC, holds about 30% of total USDC in circulation as assets on its platform, and said total assets on the platform have grown for five sequential quarters.
- USDC and Stablecoin Infrastructure ExpansionCoinbase said it remains committed to growing USDC while supporting other high-quality regulated stablecoins, including OUSD and PYUSD. Its efforts include distribution, customer relationships, infrastructure, derivatives collateral, and integrating USDC into Base payments and other transaction flows.
- Agentic Trading GrowthCoinbase said agentic trading volume was growing approximately 20% week-over-week. The company is positioning Coinbase for Agents and its MCP API as infrastructure for AI-enabled trading, payments, borrowing, and financial accounts with controls and permissions.
- AI-Enabled Product DevelopmentExecutives said agents were sending hundreds of feedback messages to Slack each day, with some feedback converted into pull requests and deployed as quickly as the next day. Coinbase also said AI was increasing internal productivity, while code quality, reliability, and the number of bugs and incidents could improve.
- Post-Quantum Security PreparationCoinbase has begun upgrading its custody systems to be post-quantum. The company said it acquired a team of cryptography experts in 2022, is monitoring quantum and AI-related security issues, and is participating in community discussions and Bitcoin post-quantum proposals.
- Tokenized Equity Trading TractionCoinbase said tokenized equity trading for non-U.S. customers had generated $3 billion in volume since launch. Sequencer fees are currently the most direct monetization point, while the company is focused on building liquidity, network effects, and utility around tokenized assets.
- Real Securities for Tokenized EquitiesCoinbase said its tokenized equities are structured as real securities that can provide dividend upside, include voting rights being implemented, and can be redeemed for the underlying asset. The company views its custody capabilities and trusted crypto brand as advantages in this market.
- Everything Exchange StrategyCoinbase said investments in prediction markets, derivatives, payments, lending, equities, and other products are beginning to bear fruit. The company aims to combine these services in one account for consumers, institutions, businesses, developers, and AI agents.
- Multi-Segment Platform LeverageThe company said it serves consumers, institutions, businesses, and developers through its platform. Coinbase expects to build infrastructure once and deploy it across multiple customer segments, bringing those customers to new assets and markets.
- Deribit Integration and Unified Derivatives ExchangeCoinbase said it had made good progress integrating Deribit, described as the largest crypto options trading platform before the acquisition, into its existing products. The resulting regulated global exchange processes perpetuals, options, and futures, with Deribit being made available to U.S. and non-U.S. customers.
- Coinbase Pro Relaunch and Regulatory TailwindsCoinbase plans to relaunch its advanced trader platform under the Coinbase Pro brand. Executives also said the regulatory environment had improved, citing the GENIUS Act becoming law and more collaborative activity from the SEC and CFTC to make additional products available in the U.S.
- Base and Crypto Infrastructure DifferentiationCoinbase highlighted Base's large developer and on-chain ecosystem, its co-founding of USDC, creation of the x402 protocol for agentic commerce, decentralized exchange integrations, and its ability to serve both retail and institutional customers as competitive advantages.
- Customer and Product FocusBrian Armstrong said his focus would shift increasingly toward customers and product improvement in 2027, while continuing to support regulatory progress. Alesia Haas closed by emphasizing a focus on customers.
MX:COIN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 18, 2027 | 2026 (Q4) | 0.66- | -46.78 | ― | ― |
| Oct 29, 2026 | 2026 (Q3) | -4.3247.15 | 28.18 | 67.33% (+18.97) | |
| Jul 30, 2026 | 2026 (Q2) | -8.34-25.55 | 96.56 | -126.46% (-122.11) | |
| May 07, 2026 | 2026 (Q1) | 1.20-27.99 | 4.51 | -720.83% (-32.50) | |
| Feb 12, 2026 | 2025 (Q4) | 18.67-46.78 | 87.54 | -153.43% (-134.32) | |
| Oct 30, 2025 | 2025 (Q3) | 21.5328.18 | 5.26 | 435.71% (+22.92) | |
| Aug 01, 2025 | 2025 (Q2) | 23.4696.56 | 2.63 | 3571.43% (+93.93) | |
| May 08, 2025 | 2025 (Q1) | 36.434.51 | 82.66 | -94.55% (-78.15) | |
| Feb 13, 2025 | 2024 (Q4) | 42.3887.54 | 19.54 | 348.08% (+68.01) | |
| Oct 30, 2024 | 2024 (Q3) | 7.785.26 | -0.19 | 2900.00% (+5.45) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed