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What Fueled Coinbase's Stellar Q1 Earnings?

Published 05/05/2023, 09:40 AM
Updated 05/05/2023, 10:00 AM
What Fueled Coinbase's Stellar Q1 Earnings?
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  • Coinbase (NASDAQ:COIN)'s Q1 earnings report showcases a strong financial performance.
  • The exchange saw more substantial revenues and lesser outflows.
  • Both internal and external factors helped boost Coinbase’s earnings.

On Wednesday, May 4, Coinbase reported strong Q1 financials, boasting significantly improved financial performance compared to the previous period. The company’s net loss significantly decreased while earnings and cash flow surged.

The news has led to a surge in the company's stock price, with shares soaring 10% in after-hours trading to $54.19.

Bitcoin’s Surge Boosts Coinbase

One of the main factors contributing to Coinbase's impressive Q1 results is the resurgence in Bitcoin's price....

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