|
Blockchain & Cryptocurrency
|
Coinbase and Square Show Strong Q2 Performance Amid Market ...
2024-08-01 23:55:08

Coinbase and Square Show Strong Q2 Performance Amid Market Volatility

Despite a decrease in trading volume, Coinbase's Q2 revenue exceeded expectations, driven by growth in subscription and services revenue fueled by higher USDC balances and asset prices. Additionally, the exchange is expanding into ETFs and tokenized funds.

On the other hand, Square's Q2 earnings surpassed estimates, although revenue fell short due to lower Bitcoin sales. The company's focus on cost-cutting boosted EBITDA, with adjusted EPS rising significantly.

Both Coinbase and Square demonstrated resilience in the face of market fluctuations, with Coinbase's shares rising after the revenue beat and Square's stock climbing on positive guidance. These performances highlight the companies' ability to navigate challenges and capitalize on opportunities in the evolving cryptocurrency landscape.

Related news on that topic:

MicroStrategy's Cash Flow Challenges Amid Bitcoin Growth

MicroStrategy, a Virginia-based Bitcoin-proxy, faces cash flow concerns with stagnant software revenue and a surge in Bitcoin holdings to $15 billion. Analysts worry about covering interest expenses and tax liabilities. An anticipated quarterly loss and impairment charge on its Bitcoin holdings loom, along with a change in asset valuation methods. Despite a doubling in Bitcoin holdings' value, generating no income, MicroStrategy's shares soared 156%, outpacing Bitcoin's 50% increase. Additionally, a Q2 net loss of $102.6M was reported due to a $180.1M impairment charge on 226,500 Bitcoins. The U.S. gained 206K jobs in June, and Mt. Gox initiated repayments in Bitcoin and Bitcoin Cash.

The press radar on this topic:

CoinDesk
1. August 2024 um 20:37

Coinbase Shares Rise After Q2 Revenue Beats Wall Street Estimates Amid Falling Trading Volume Bitcoin Trading Sideways Is the 'Best Thing' for Long-Term Holders: eToro US Analyst

Economy
Finance
Cryptocurrencies & blockchain
Coinbase's Q2 revenue beat estimates despite falling trading volume. Transaction fees declined, but subscription and services revenue grew, driven by higher USDC balances and asset prices. The exchange is diversifying into ETFs and tokenized funds, including BlackRock's BUIDL token.
Yahoo Finance
1. August 2024 um 20:13

Coinbase's second-quarter revenue surges on crypto trading revival

Economy
Finance
Cryptocurrencies & blockchain
Coinbase's Q2 revenue surged from revived crypto trading fueled by SEC's bitcoin ETF approval and financial giants' entry, despite clashes with SEC over crypto token classification; the firm also saw growth in stablecoin and custodial fee revenues, leading to $1.38 billion in net revenue, and its shares rose 2.2% in extended trading.
Yahoo Finance
1. August 2024 um 20:47

Square Stock: Earnings Beat As Margin Trajectory Gains Momentum| Investor's Business Daily

Finance
Economy
Technology
Block (SQ) Q2 earnings beat 84-cent estimate; revenue missed $6.27B forecast on lower Bitcoin. Gross profit, EBITDA topped projections. Merchant volume missed. SQ stock rose 4% on guidance. Afterpay, Cash App Bitcoin included. San Francisco-based Block runs a two-sided payments ecosystem for merchants, consumers. Cost-cutting boosted EBITDA. SQ stock fell 19% before earnings. Adjusted EPS up 138% to 93 cents; revenue rose 11% to $6.16B.
Yahoo Finance
1. August 2024 um 20:37

Coinbase Stock Rises On Revenue Beat, Jump In Crypto Activity | Investor's Business Daily

Economy
Finance
Technology
Trump and Kennedy advocated for bitcoin at the annual bitcoin conference. GraniteShares is bullish on Coinbase, seeing crypto asset growth benefiting the leading trading platform.
CW

Account

Waiting list for the personalized area


Welcome!

InfoBud.news

infobud.news is an AI-driven news aggregator that simplifies global news, offering customizable feeds in all languages for tailored insights into tech, finance, politics, and more. It provides precise, relevant news updates, overcoming conventional search tool limitations. Due to the diversity of news sources, it provides precise and relevant news updates, focusing entirely on the facts without influencing opinion. Read moreExpand

Spotlighting today's most mentioned stocks in the media. Uncover the stories making waves in the stock market:

A closer look at the individuals who are leading today's news narratives. Find out what makes them the center of attention.

Exploring the five locations receiving the most media attention in the last 24 hours. Discover what puts these places in the global spotlight

Your World, Tailored News: Navigate The News Jungle With AI-Powered Precision!

News

All News
Politics
Technology
Economy
Business
Climate

About

About Us
Team + Mission

Legal

Cookie Settings
Disclaimer
Legal Notice
Data Privacy

Contact

Contact