Coinbase announced on Wednesday during its third quarter earnings report that its board of directors has approved a $1 billion stock buyback plan.

In October 2024, our board of directors authorized and approved a stock repurchase plan that allows for the repurchase of up to $1 billion of outstanding Class A common stock without a deadline. Coinbase stated, "The timing and amount of any repurchase will depend on market conditions

Coinbase also stated that its balance sheet is "robust," with $8.2 billion in US dollar resources at the end of the third quarter, an increase of $417 million from the previous quarter.

The company added that the repurchase plan will be at its own discretion and there is no obligation to repurchase any amount or quantity of Class A common stock in US dollars, and the plan may be modified, suspended, or terminated at any time.

Coinbase (COIN) stock price fell 5.33% to $200.48 in after hours trading.

Profit mostly decreases

Due to cryptocurrency prices trading at a lower level in 2023, Coinbase's net income, net profit, and adjusted EBITDA have all increased compared to the same period last year. But compared to the previous quarter, only net profit increased, reaching $75 million, higher than the $36 million in the second quarter.

Coinbase's net revenue for the third quarter was $1.13 billion, lower than the previous quarter's $1.38 billion. The adjusted EBITDA for the third quarter was $449 million, compared to $596 million in the previous quarter.

Compared to the second quarter, stablecoin revenue is one of the few sources of income that has improved. Coinbase reported its stablecoin revenue of $247 million, a slight increase from the previous quarter's $240 million, and a slight increase in company interest and other income.

We have seen a significant increase in stablecoin trading volume between quarters. We believe that this growth is partly driven by a product update that allows advanced traders to trade stablecoins more conveniently on our platform, "Coinbase said in its statement." Although we have incurred almost no fees in stablecoin trading, the adoption growth of stablecoins (especially USDC) is at the core of our strategy, as we monetize USDC through commercial arrangements with USDC issuers

data source

(责任编辑：理财)

• ·小赢卡贷逾期两个月，一般会有什么后果啊？
• ·occ钱包官网-occ钱包官网下载
• ·imtoken怎么 imtoken怎么读
• ·Solana 社群反擊以太坊 OG 評論：胡說八道的狂熱教徒
• ·网民热议Bessent加密货币需美国领导言论：引发对权力集中与稳定币动机的广泛批评
• ·请问360借条放款要多久时间？
• ·14年比特币价格
• ·厦门公积金提取流程-厦门公积金提取流程详解
• ·比特币4月涨超14%，逼近98 000美元创新高
• ·10月31日华富时代锐选混合C净值增长1.19%，近3个月累计上涨16.1%
• ·发票作废后多久可以重新领取
• ·10月31日国金鑫悦经济新动能A净值增长0.12%，今年来累计上涨23.97%
• ·企业租车交税要交多少点
• ·玖富万卡显示放款中就是在放款了吗？
• ·从中本聪到SBF：谁在偷走加密世界的灵魂？
• ·10月31日中海混改红利混合A净值增长0.35%，近3个月累计上涨9.4%