Coinbase Global (COIN) shares climbed more than 17% on Friday. The rally occurred despite the company reporting fourth-quarter financial results that missed analyst expectations for both revenue and earnings.
The company posted a net loss of $667 million for the quarter. This loss represented $2.49 per share. Total revenue reached $1.78 billion, falling short of consensus estimates.
Investors focused on management’s optimistic outlook and a new share buyback program. The company projected record growth in trading volume and market share for 2025. Subscription and services revenue also showed significant growth as Coinbase diversifies its income streams.
A broader recovery in the cryptocurrency market further fueled the stock surge. Bitcoin and Ethereum prices both trended higher during the session. Analysts noted that previous stock declines likely priced in the weak earnings, allowing forward-looking statements to drive the rebound.