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：游戏)

• ·全球10大usdt交易平台 币圈十大usdt交易平台
• ·恒星币今日行情
• ·虚拟货币热度排行榜 虚拟货币热度排行直击
• ·一般纳税人销售自产自销的农产品是否交印花税
• ·国际网络交易软件iOS榜单_TOP10币圈小白国际网络交易软件排名
• ·也字少一竖念啥？答案超简单！也字少一竖念什么
• ·深入了解SOL代币-全面解析SOL代币有哪些特点
• ·Telegram 禁止柬埔寨黑市“好网担保”
• ·最大以太经典官网地址官网_安全稳定以太经典官网地址排名第一
• ·派币今日价格 6月26日派币实时价格走势图
• ·币安老用户开通手续费返佣教程及Binance手续费讲解
• ·比特币为什么合法
• ·国内正规波场币apk哪里可以买？英国最好用加密虚拟币交易所三大排名
• ·1inch Token (1INCH)怎么买？1inch Token (1INCH)在哪里买卖交易？
• ·怎么购买SHIB币？SHIB币在哪个平台交易？SHIB币购买交易教程
• ·海拉尔9月穿什么衣服-海拉尔9月穿什么衣服合适呢