Coinbase's third quarter profit declines, announces $1 billion stock buyback plan
Coinbase announced on Wednesday during its third quarter earnings report that its board of directors has approved a $1 billion stock buyback plan.
In October 2024, our board of directors authorized and approved a stock repurchase plan that allows for the repurchase of up to $1 billion of outstanding Class A common stock without a deadline. Coinbase stated, "The timing and amount of any repurchase will depend on market conditions
Coinbase also stated that its balance sheet is "robust," with $8.2 billion in US dollar resources at the end of the third quarter, an increase of $417 million from the previous quarter.
The company added that the repurchase plan will be at its own discretion and there is no obligation to repurchase any amount or quantity of Class A common stock in US dollars, and the plan may be modified, suspended, or terminated at any time.
Coinbase (COIN) stock price fell 5.33% to $200.48 in after hours trading.
Profit mostly decreases
Due to cryptocurrency prices trading at a lower level in 2023, Coinbase's net income, net profit, and adjusted EBITDA have all increased compared to the same period last year. But compared to the previous quarter, only net profit increased, reaching $75 million, higher than the $36 million in the second quarter.
Coinbase's net revenue for the third quarter was $1.13 billion, lower than the previous quarter's $1.38 billion. The adjusted EBITDA for the third quarter was $449 million, compared to $596 million in the previous quarter.
Compared to the second quarter, stablecoin revenue is one of the few sources of income that has improved. Coinbase reported its stablecoin revenue of $247 million, a slight increase from the previous quarter's $240 million, and a slight increase in company interest and other income.
We have seen a significant increase in stablecoin trading volume between quarters. We believe that this growth is partly driven by a product update that allows advanced traders to trade stablecoins more conveniently on our platform, "Coinbase said in its statement." Although we have incurred almost no fees in stablecoin trading, the adoption growth of stablecoins (especially USDC) is at the core of our strategy, as we monetize USDC through commercial arrangements with USDC issuers
data source
(责任编辑:基金工具)
- 火币冻结
- mist钱包太大
- 计算矿机收益软件
- OpenAI与阿联酋合作建设全球最大数据中心
- Kraken 获得 MiFID 牌照,进军欧洲衍生品市场
- 10月31日财通多策略福瑞混合发起式(LOF)A净值增长0.32%,近3个月累计上涨6.44%
- 利润表成本增加资产负债表怎么调整
- cex交易平台
- 美国SEC指控Unicoin及其高管涉嫌1亿美元发行欺诈,误导逾5000名投资者
- 10月31日中欧聚优港股通混合发起A净值下跌0.69%,近1个月累计下跌3.45%
- 代开专票冲红怎么账务处理
- 10月31日国投瑞银瑞泰多策略混合C净值下跌0.29%,近1个月累计下跌1.48%
- 有人知道变更住房公积金贷款担保人需要什么条件吗?
- 10月31日中海分红增利混合净值增长0.64%,近3个月累计上涨18.17%
- 怎么买铁币
- 哪些银行股票值得投资-哪些银行股票值得投资呢
- 10月31日国泰睿毅三年持有期混合A净值增长0.58%,近3个月累计上涨19.49%
- meme币交易所下载官方app下载 meme币最新版下载ios
- 10月31日国投瑞银瑞源灵活配置混合C净值增长0.59%,近3个月累计上涨8.55%
- 日本十月天气穿什么-日本十月天气穿什么衣服
- 虚拟货币交易 views+
- 全球三大虚拟货币交易平台 views+
- okx交易所app官网 views+
- 十大虚拟货币交易平台app views+
- 亿欧交易所下载 views+
- 数字货币交易平台app views+
- OK交易所官网入口登录 views+
- 易欧app官网下载 views+
- 欧亿交易所怎么样。 views+