CEX Q3 financial report exceeded expectations, with a net profit of $432.6 million and trading-related revenue rising by 37% quarter-on-quarter.

robot
Abstract generation in progress

On October 31, according to CNBC, CEX's Q3 financial report exceeded expectations, with a net profit rising from 75.5 million USD (28 cents per share) in the same period last year to 432.6 million USD (1.50 USD per share). Earnings per share surpassed the consensus expectation of 1.10 USD compiled by the London Stock Exchange Group analysts. Revenue increased from 1.21 billion USD in the same period last year to 1.87 billion USD, exceeding analysts' expectations of 1.8 billion USD. Revenue related to trading rose to 1 billion USD, a 37% increase from the second quarter, with retail investor trading income at 844 million USD, up 30% quarter-on-quarter. Additionally, subscription and service revenue reached 747 million USD. The platform's consumer trading volume soared to 59 billion USD, a 37% increase from the previous quarter. Retail investor trading income reached 844 million USD, a 30% quarter-on-quarter increase. On the institutional side, CEX's third-quarter trading income reached 135 million USD, a 122% increase from the previous quarter; while institutional trading volume in the third quarter increased by 22% quarter-on-quarter, reaching 236 billion USD. Stablecoin revenue reached 355 million USD, a 7% year-on-year growth. The USDC held within CEX products amounted to 15 billion USD, a 9% year-on-year increase. Derivatives (CEX + CEX) trading volume exceeded 840 billion USD, marking the highest level of trading volume and market share for U.S. crypto derivatives. An additional 2,772 Bitcoins were acquired, approximately equating to 299 million USD. CEO Armstrong stated that as part of the strategy, CEX is integrating prediction markets, tokenization of stocks, and other products into its platform. As the market size for various digital assets continues to expand and competition intensifies due to favourable regulatory factors, CEX's expansion of its business scope is crucial for its future growth. Following the news of the financial report exceeding expectations, CEX (COIN) stock price rose 3.5% after hours.

USDC0.01%
BTC-0.11%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)