Coinbase swings to profit in Q1 on jump in trading volumes
Investing.com -- Coinbase swung to a profit in the first quarter Thursday as revenue more than double from a year earlier, underpinned by a jump in trading volumes.reported earnings of $4.40 a share, compared with a loss of $0.34 a share a year earlier, and revenue of $1.64 billion, up from revenue of $772.5M a year earlier. That topped Wall Street expectations for EPS of $0.90 on revenue of $1.29B.
"The bitcoin ETFs – combined with strong market conditions in Q1 – unlocked a flywheel of customer engagement across this more robust product suite. In fact, nearly 40% of institutional clients engaged with at least 3 products in Q1.
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