Coinbase expects its subscription and services segment to generate between $550 million and $630 million in the fourth quarter. This forecast accompanies an adjusted expense projection ranging from $1.007 billion to $1.157 billion.
In the third quarter of 2026, the company reported subscription and services revenue of $570 million, exceeding market expectations of approximately $564 million. Total revenue for the same period reached $1.22 billion, with transaction revenue accounting for $590 million.
The exchange noted that transaction revenue for the current quarter-to-date stands at approximately $165 million. Management attributed the Q4 guidance to market pressures, specifically citing a decline in the average market capitalization of USDC and lower staking rates.
Coinbase is also expanding into prediction markets, a business line projected to generate over $200 million in annualized revenue. CEO Brian Armstrong emphasized a strategic shift toward diversification to reduce the company's reliance on transaction-based income.
