Coinbase’s stock soars after crypto platform swings to profit, as ‘risk on’ activity resumes

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Coinbase’s stock soars after crypto platform swings to profit, as ‘risk on’ activity resumes

By: market watch Posted On: February 15, 2024 View: 34

Coinbase Global Inc. shares jumped 13% in the extended session Thursday after the crypto-trading platform swung to a quarterly profit and reported revenue well above Wall Street expectations, saying it benefited from “risk on” activity in the markets.

Coinbase COIN earned $273 million, or $1.04 a share, in the fourth quarter, versus a loss of $557 million, or $2.46 a share, in the year-ago quarter.

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