Coinbase Global (NASDAQ:COIN) shares nosedived 6% during afterhours trading Thursday following disappointing guidance for retail user growth and trading volume. The stock initially spiked ~13% within minutes of the earnings release following better-than-expected Q4 results. It expects subscription and services revenue to decrease in Q1 due to recent crypto asset declines. For 2022, the company forecasts average retail MTUs of 5.0M-15.0M vs. 8.4M in 2021. It sees average net transaction revenue per user at pre-2021 levels compared with $64 last year. The company sees 2022 transaction expenses in the low 20% range, up from 17% in 2021, driven by growth in Blockchain Rewards revenue. Anticipates 2021 technology and development and G&A expenses, excluding stock-based compensation, at $4.25B-5.25B vs. $1.41B in 2021. Q4 net revenue of 2.49$B, beat the $1.81B consensus and climbed from $1.08B in Q3. Q4 EPS of $3.32 also beat the Wall Street estimate of $1.95 and jumped from $0.66 in the same
