Coinbase (COIN) topped already robust estimates for fourth quarter outcomes, posting a 138% year-over-year acquire in income amid the foremost bull transfer in crypto surrounding the November election of Donald Trump.
The main U.S. crypto trade posted fourth quarter income of $$2.27 billion towards consensus $1.84 billion and $1.26 billion three months prior.
Buying and selling quantity within the fourth quarter was $439 billion, up 185% from the year-ago degree. Transaction income of $1.56 billion was increased by 194% year-over-year.
“Crypto’s voice was heard loud and clear within the U.S. elections, and the period of regulation through enforcement that crippled our business within the U.S. is on its means out,” stated CEO Brian Armstrong in his shareholder letter. “Our targets in 2025 are to drive income, drive utility, and scale our foundations.”
Shares of Coinbase are up simply modestly in after-hours buying and selling, however the inventory already rallied 8.5% in the course of the common session right now following blowout fourth quarter crypto-results from Robinhood on Wednesday.
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