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：百科资讯)

• ·有人知道360借条第二次借款失败的原因是什么吗？
• ·增值税发票抵扣后还能作废吗
• ·bfx交易所
• ·10月31日富国高端制造行业股票A净值下跌0.60%，近1个月累计下跌4.67%
• ·币宝交易所
• ·10月31日平安股息精选沪港深C净值下跌0.36%，近1个月累计下跌3.07%
• ·深度数据分析：Solana 真的超越 EVM 链了吗？从流动性池质量看区块链竞争格局
• ·10月31日嘉实兴锐优选一年持有混合C净值下跌0.33%，近1个月累计下跌4.64%
• ·zec挖多少可以结算
• ·如何做冲回坏账准备的会计分录？
• ·退回的社保费怎么做会计分录
• ·聚币网怎么转币 聚币网怎么转币的
• ·Abraxas Capital大举增持4万多枚ETH
• ·虚拟币各平台
• ·公积金网上补缴流程-公积金网上补缴流程图
• ·下载欧亿交易所app电脑版的全面指南