{"id":321817,"date":"2021-08-11T18:00:45","date_gmt":"2021-08-11T15:00:45","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinbase-stock-jumps-on-better-than-expected-q2-earnings\/"},"modified":"2021-08-11T18:00:45","modified_gmt":"2021-08-11T15:00:45","slug":"coinbase-stock-jumps-on-better-than-expected-q2-earnings","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinbase-stock-jumps-on-better-than-expected-q2-earnings\/","title":{"rendered":"#Coinbase stock jumps on better-than-expected Q2 earnings"},"content":{"rendered":"

“#Coinbase stock jumps on better-than-expected Q2 earnings<\/strong>”<\/p>\n

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Shares of crypto exchange Coinbase rose 7 percent Wednesday morning after the company reported better-than-expected second quarter profits. <\/p>\n

The digital coin exchange late Tuesday reported $1.6 billion in net profit for the quarter, representing earnings per share of $3.45. That eclipsed Wall Street\u2019s expectations of $2.33 per share.\u00a0<\/p>\n

Coinbase trading volumes also surged 38 percent to $462 billion during the second quarter. <\/p>\n

The company, whose success is tethered to risky digital assets like bitcoin, warned that it third quarter trading volumes will be lower than the second quarter.\u00a0<\/p>\n

Investors seemed to brush off the warning, however, sending the stock up 7 percent on Wednesday to $288.22. Coinbase shares have surged about 15.2 percent over the past month, but are remain far below it\u2019s April stock debut price of $381.\u00a0<\/p>\n

Coinbase faces other potential performance pressures, including the growing prospect of government regulation, which could dampen profits for both individual traders and companies like Coinbase that rake in cash through transaction fees.\u00a0<\/p>\n

\"Chart
A chart shows the upward trend of Coinbase stock.<\/figcaption>
Google Finance<\/span><\/figcaption><\/figure>\n

Securities and Exchange Commission head Gary Gensler said last week that crypto traders need more investor protections, calling the digital currency world \u201crife with fraud, scams and abuse.\u201d\u00a0<\/p>\n

In Coinbase\u2019s Tuesday earnings call Chief Financial Officer Alesia Haas told investors the company is watching the SEC closely.\u00a0<\/p>\n

\u201cWe\u2019re eager to understand the legal framework for the concerns that he has raised and how any of those may impact our product roadmap,\u201d she said.\u00a0<\/p>\n

Even while acknowledging the threat of government regulation, analysts from Wedbush Securities set a 12 month price target of $300 for Coinbase shares, predicting \u201cstrong earnings power for the next 3 to 5 years.\u201d\u00a0<\/p>\n

\"Woman
Shares of Coinbase popped Wednesday morning after a better-than-expected earnings report. <\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n

\u201cOn the other hand, the stock will likely continue to be volatile given multiple broad factors, mostly related to the regulatory environment,\u201d Wedbush analysts Moshe Katri, Dan Ives and Ryan Campbell added.\u00a0<\/p>\n

Other analysts have raised concerns about Coinbase\u2019s profits and stock price being too tied to the highly volatile price of bitcoin, the most popular cryptocurrency.\u00a0<\/p>\n

But the company\u2019s second quarter results show Coinbase customers are increasingly investing in a wider variety of digital coins.\u00a0<\/p>\n

Bitcoin trades comprised 24 percent of\u00a0Coinbase\u2019s trading volumes for the quarter, down from 39 percent in the first quarter.<\/p>\n

With Post wires<\/em>\n <\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Coinbase stock jumps on better-than-expected Q2 earnings” Shares of crypto exchange Coinbase rose 7 percent Wednesday morning after the company reported better-than-expected second quarter profits. The digital coin exchange late Tuesday reported $1.6 billion in net profit for the quarter, representing earnings per share of $3.45. That eclipsed Wall Street\u2019s expectations of $2.33 per share.\u00a0…<\/p>\n","protected":false},"author":1,"featured_media":321818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/coinbase-45.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,74956,113932,76127,72388],"class_list":["post-321817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-coinbase","tag-8-11-21","tag-cryptocurrency","tag-stock-market"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/321817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=321817"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/321817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/321818"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=321817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=321817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=321817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}