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：金店)

• ·本周瑞波币（XRP）价格预测
• ·零币国外交易平台
• ·火币网交易收费的
• ·企业资产规模增加的原因有哪些
• ·coinbase是什么 coinbase是什么交易所
• ·请问信用管家征信贷款回访公司电话吗？我看见上面说会给公司打电话。
• ·房地产预缴增值税需要计提吗
• ·火币网怎么看
• ·虚拟币交易所前10名单 虚拟币区块链app交易所排名
• ·ltc手机挖矿软件下载-ltc手机挖矿app
• ·仅当满足某些条件时，Pendle 加密货币才能迫使价格上涨至 7 美元！
• ·OP Stack 的进阶之路：OP Succinct 解锁 ZK Rollup 潜力
• ·Wintermute将在纽约开设美国总部
• ·股票交易超时-股票交易超时是什么意思
• ·新易贷验证资格失败为什么，新易贷的申请条件是什么？
• ·拍拍贷已经被注册了怎么办呢？我第一次用自己的身份证号注册。