Coinbase reported strong fourth-quarter earnings for 2024, with total revenue reaching $2.3 billion, an increase of 88% quarter-over-quarter and 138.21% year-over-year. The earnings per share (EPS) stood at $4.68, exceeding analyst expectations by $1.58. The company's net income for the quarter was $1.3 billion, contributing to a total annual revenue of $6.6 billion and a profit of $2.6 billion for 2024. Analysts have raised Coinbase's price target to $344 following these results. The surge in earnings is attributed to increased trading activity in the cryptocurrency market, particularly following the recent U.S. presidential election results. Additionally, Coinbase maintained a dominant market share in crypto spot trading, capturing 67% of the market in January 2025, compared to Robinhood's 9%. The company also reported a significant decrease in expenses, further bolstering its financial position.