Coinbase’s 1Q earnings preview: Profitability expected for second straight quarter

Earnings per share is expected to come in at US$0.97. This will mark the second straight quarter of profitability and a continued turnaround from its losses a year ago.

Broad expectations for improving macroeconomic conditions in 2024 have also uplifted market risk appetite and improved sentiments in the cryptocurrency space, which is known to be highly volatile. While the Crypto Fear & Greed Index has eased off its recent peak lately, it continues to hover in ‘greed’ territory around levels seen in late-2023.

In 4Q 2023, its institutional business represented 8% of Coinbase's transaction revenue, and institutional trading volume were up 92% quarter-on-quarter. This may help to underpin the steady growth momentum for this segment, while eyes will be on several new products, such as Coinbase One, Prime Financing products and Coinbase Cloud, to see if they can gain traction.Coinbase’s share price has retraced as much as 27% from its March 2024 peak but is attempting to stabilise lately at the upper edge of its daily Ichimoku cloud support around the US$220.00 level.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Lime Reports Strong Financial Figures, Aims for Profitability in Electric Scooter BusinessLime released a new set of financial figures that show increased profits and bookings in the first half of the year, indicating a positive trend in the shared electric scooter business. The company reported gross bookings of $250 million, a 45 percent increase compared to the same period last year. Lime also achieved adjusted EBITDA profitability of $27 million, marking the first time it has achieved this for the first half of the year. Lime CEO Wayne Ting expressed confidence in the company's ability to deliver profitability and potentially achieve free cash flow positive.
La source: verge - 🏆 94. / 67 Lire la suite »