Coinbase (COIN) share surge after earnings


Monitors display Coinbase signage during the company’s initial public offering at the Nasdaq MarketSite in New York, April 14, 2021.

Michael Nagle | Bloomberg | Getty Images

Shares of cryptocurrency exchange Coinbase soared 15% Friday in U.S. trading after the company reported its first profit in two years.

Coinbase, the largest U.S. venue for buying and selling cryptocurrencies, said that net income totalled $273 million in the fourth quarter.

This is the first time that the company has reported positive net income since the fourth quarter of 2021.

Coinbase said Thursday that its net revenue was $905 million in the fourth quarter of 2023, up nearly 50% from $605 million in the same period of…

Source cnbc.com

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