(Updated - May 13, 2021 4:05 PM EDT)

Coinbase (NASDAQ: COIN) reported Q1 EPS of $3.05, $0.04 worse than the analyst estimate of $3.09. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.81 billion.

• We ended Q1 2021 with over 56 million Verified Users and 6.1 million retail MTUs. In addition to strong crypto market conditions, MTU growth was supported by our marketing efforts, including both performance marketing campaigns as well as several broader awareness initiatives. We plan to substantially increase our marketing investments throughout 2021 to drive awareness of Coinbase and our industry.

Outlook:
As we have previously discussed, it is important for investors to remember that our business is inherently unpredictable. MTUs, Trading Volume, and therefore transaction revenue currently fluctuate, potentially materially, with Bitcoin price and crypto asset volatility. As a result, revenue is difficult to forecast. In the interest of transparency, our approach to sharing information relative to future performance will be consistent with how we operate the business. That includes assessing and planning for a wide range of potential outcomes.

For earnings history and earnings-related data on Coinbase (COIN) click here.