Coinbase first-quarter profits surged above $1 billion on ETF frenzy [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
Yet the stock of the largest US cryptocurrency exchange fell by as much as 4% in after-hours trading trading Thursday. The stock is up more than 31% since the beginning of the year but 38% below its peak in November 2021. Net income rose to $1.17 billion, the highest mark in nine quarters, while net revenue rose by 155% when compared to the year-ago period. This was just the second time Coinbase has reported positive quarterly earnings since the fourth quarter of 2021, when the last crypto boom was still raging. The boost in this year's first quarter came from a revival in digital coin trading due largely to the launch of a series of new bitcoin ETFs in January. These ETFs attracted a lot of new money, potentially widening the mainstream appeal of digital assets by allowing investors to get exposure to bitcoin without directly owning it. Global crypto trading volume for major coins reached its highest level since 2021, increasing 68% from to a year ago, according to data
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COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- COIN's page on the SEC website