Summary by Moomoo AI
Coinbase Global, Inc. (Coinbase) reported a significant increase in financial performance for the third quarter of 2024. The company generated $1.1 billion in net revenue and $75.5 million in net income for the quarter, marking substantial growth compared to the same period in the previous year. This performance was driven by a 143% increase in trading volume, reaching $185 billion, and a 16% rise in Monthly Transacting Users (MTUs) to 7.8 million. Adjusted EBITDA also saw a significant rise to $449 million, up 152% from the previous year. The company's strategic investments in related parties grew to $3.5 million for the quarter, indicating a focus on expanding business relationships and product offerings. Looking ahead, Coinbase has authorized a share repurchase program of up to $1.0 billion of its Class A...Show More
