Is $95 Million in Earnings Enough to Reassure Coinbase Investors?
Since the start of 2023, the cryptocurrency market has experienced strong positive momentum, having climbed from about $800 billion to just under $2 trillion in value in roughly the past 14 months. (NASDAQ: COIN), one of the largest brokerage and exchange operators in the industry, has benefited tremendously.
The cryptocurrency enterprise reported revenue growth of 50% in the most recent quarter (Q4 2023 ended Dec. 31), as trading volumes picked up amid market enthusiasm. And investors might have been even more encouraged by the fact that the business reported net income of $95 million last year, a huge rebound from the $2.6 billion net loss posted in 2022.
Is this bottom-line performance enough to reassure Coinbase shareholders?
Source Fool.com
Coinbase Global Inc. Stock
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