Coinbase第三季度净利7.19亿美元：总收入12.2亿美元降35%、所持加密资产收益撑起利润
加密货币交易平台 Coinbase Global, Inc.（纳斯达克：COIN）10月29日公布截至2026年9月30日的第三季度业绩：净利润7.19亿美元、摊薄每股收益2.51美元，总收入12.16亿美元，同比下降35%，去年同期为18.69亿美元。
分项看，交易收入5.90亿美元，同比下降44%；订阅与服务收入5.70亿美元，占净收入的49%，其中稳定币 USDC 相关收入3.07亿美元。公司产品中平均 USDC 持有量达220亿美元，创历史新高，同比增长49%。
公司表示，本季净利润主要来自其作为投资持有的加密资产带来的7.15亿美元收益；剔除这类投资收益等项目后，调整后净利润为7,800万美元。调整后 EBITDA 为3.33亿美元，环比增长60%，为连续第15个季度为正。经营利润为6,170万美元，去年同期为4.805亿美元。
交易市占率方面，Coinbase 的加密交易量市占率升至10.7%，连续第四个季度提升；平台资产占全球加密总市值的12.5%，回到峰值水平。付费订阅服务 Coinbase One 的订户数创历史新高，同比增长24%。预测市场业务年化收入已超过2亿美元，公司称其为历史上增长最快的产品之一。
联合创始人兼首席执行官 Brian Armstrong 表示，公司在市场偏弱的环境中仍在产品上创下多项纪录，并把业务重心放在被称为「全能交易所」（Everything Exchange）的综合平台上。首席财务官 Alesia Haas 表示，订阅与服务收入已接近净收入的一半，预测市场又增加了一条与加密波动相关性较低的收入来源，使公司收入结构更趋多元。
指引方面，公司预计第四季度订阅与服务收入在5.5亿至6.3亿美元之间。公司同时在监管文件中披露，其首席执行官、联合创始人与总裁等内部人计划在未来14个月内出售至多1,360万股股票，约占其 A 类股的6%。
Coinbase Posts $719 Million Third-Quarter Net Income as Total Revenue Falls 35% to $1.22 Billion
SAN FRANCISCO — Coinbase Global, Inc. (NASDAQ: COIN) on October 29 announced financial results for the third quarter ended September 30, 2026, reporting net income of $719 million, or $2.51 per diluted share, on total revenue of $1.216 billion, down 35% from $1.869 billion a year earlier.
Transaction revenue was $590 million, down 44% year over year, while subscription and services revenue was $570 million and represented 49% of net revenue, including $307 million of stablecoin revenue, mostly from USDC. Average USDC held in Coinbase products reached a record $22 billion, up 49% year over year.
The company said its net income was driven largely by a $715 million gain on crypto assets it holds as an investment. Excluding such gains and other investment items, adjusted net income was $78 million. Adjusted EBITDA was $333 million, up 60% quarter over quarter, marking the 15th consecutive quarter of positive adjusted EBITDA. Operating income was $61.7 million, compared with $480.5 million a year earlier.
Coinbase said its share of crypto trading volume rose to 10.7%, its fourth consecutive quarter of market-share gains, and that assets on platform represented 12.5% of total crypto market capitalization, returning to its peak level. Paid Coinbase One subscribers reached an all-time high, up 24% year over year, and its prediction markets surpassed $200 million in annualized revenue, which the company called one of the fastest-growing products in its history.
Co-founder and Chief Executive Officer Brian Armstrong said the company set product records across the board despite a softer market, as it builds what it calls the Everything Exchange. Chief Financial Officer Alesia Haas said subscription and services revenue now represents nearly half of net revenue and that prediction markets add a revenue stream less correlated to crypto volatility, making the company more diversified and resilient across market cycles.
For the fourth quarter, Coinbase expects subscription and services revenue of $550 million to $630 million. In a regulatory filing, the company also disclosed that its chief executive, a co-founder and its president plan to sell up to 13.6 million shares over the next 14 months, covering about 6% of its Class A shares.
来源：GSM·美国（原文链接）
图片来源：美国加州旧金山海滨与金融区天际线（Coinbase 总部所在地，资料图）。King of Hearts 摄，CC BY-SA 3.0，经 Wikimedia Commons。 / The San Francisco waterfront and financial district skyline in California, where Coinbase is headquartered (file photo). Photo by King of Hearts, CC BY-SA 3.0, via Wikimedia Commons.
