Coinbase shares fell Thursday as second-quarter revenue came in shy of analysts’ estimates. Gains in the cryptocurrency exchange’s subscription revenue failed to offset weaker trading volumes during the quarter.In the quarter ended June 30, Coinbase net income rose to $1.43 billion, or $5.14 per share, from $36.13 million, or 14 cents per share, a year ago. Earnings in the latest period benefited from a gain $1.5 billion, including an unrealized one related its Circle investment, and $362 million from its crypto investment portfolio.On an adjusted basis, Coinbase earned $1.96 per share, topping estimates of $1.26 reported by LSEG.Revenue rose slightly…
Author: usaeverydaylife
Superyachts in Port Hercules, Monaco.John Lamb | The Image Bank | Getty ImagesA version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.American boat buyers and European shipyards are scrambling to assess the damage from the proposed U.S. 15% tariffs on European-made goods.With many of the world’s recreational boats and yachts made in Europe, and most of the biggest buyers in the U.S., industry experts are bracing for the fallout from President Donald Trump’s Monday tariff announcement.The European Boating…
After a strong rally off a double bottom pattern in April and May, shares of coffee conglomerate Starbucks Corp. (SBUX) have now stalled out at the crucial 200-day moving average. Will the Seattle-based brewer have enough strength to finally clear this long-term trend barometer? Based on our analysis of trend, momentum and volume, we see a breakdown as a much more likely scenario. Starbucks has settled into a consolidation phase since early June, bouncing between resistance around $97-98 and support at $90. We can see that the 200-day moving average is almost completely flat, reinforcing the consolidation created by an…
Apple CEO Tim Cook attends the world premiere of “F1” at Times Square in New York on June 16, 2025.Angela Weiss | AFP | Getty ImagesApple reported third-quarter earnings on Thursday that topped Wall Street expectations for profit and revenue.iPhone sales grew 13% year-over-year and overall revenue grew 10% — Apple’s largest quarterly revenue growth since December 2021.Apple shares were up about 2% in after-hours trading on Thursday. Here’s how Apple did versus consensus estimates for the quarter ending June 28:Earnings per share: $1.57 vs. $1.43 expectedRevenue: $94.04 billion vs. $89.53 billion expectediPhone revenue: $44.58 billion vs. $40.22 billion expectedMac…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailHarry Sommer, Norwegian Cruise Line Holdings CEO, joins ‘Power Lunch’ to discuss Sommer’s quarterly earnings results, demand for the company’s products and much more. Source link
Reddit CEO Steve Huffman hugs mascot Snoo as Reddit begins trading on the New York Stock Exchange on March 21, 2024.Timothy A. Clary | AFP | Getty ImagesReddit shares jumped more than 10% after the company reported second-quarter earnings on Thursday that beat on sales and guidance.Here’s how the company did compared with LSEG estimates:Earnings per share: 45 cents vs. 19 cents expectedRevenue: $500 million vs. $426 million expectedReddit’s sales grew 78% year-over-year in the second quarter and was 17% above consensus estimates, representing the biggest beat in its short history as a public company. Net income came in at $89 million…
Check out the companies making the biggest moves midday: Generac — The generator company gained 8% after Bank of America raised its price target on the stock, highlighting the company’s entry into data centers . Baxter International — Shares fell around 20% after the health-care company reported weaker-than-expected results for the second quarter. Baxter reported adjusted earnings of 59 cents per share on revenue of $2.81 billion. Analysts polled by FactSet had forecast a profit of 61 cents per share on revenue of $2.82 billion. On top of that, Baxter lowered its full-year earnings guidance. Integra LifeSciences — The medical…
The U.S. economy is looking resilient based on recent data, but cracks are starting to show for certain companies – and that could be bad news for investors chasing yield. Earlier this week, the Commerce Department reported that U.S. gross domestic product for the second quarter grew 3%, surpassing the 2.3% estimate from economists polled by Dow Jones and reversing a 0.5% decline in the previous quarter. Nevertheless, companies with less-than-sterling ratings are feeling some pressure, according to data from Moody’s Ratings. More downgrades at the lower end of the speculative grade spectrum lifted the rating agency’s “B3 negative and…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailOn today’s episode of CNBC Crypto World, bitcoin inches higher while ether and solana dip a day after the Fed kept rates unchanged. Plus, JPMorgan Chase CEO Jamie Dimon tells CNBC he believes in blockchain and stablecoins, but not bitcoin. And, Ryan Eagan of the Crypto Council for Innovation discusses the White House crypto report released by the Trump administration Wednesday. Source link
Jakub Porzycki | Nurphoto | Getty ImagesThe Securities and Exchange Commission on Thursday debuted “Project Crypto,” an initiative to modernize securities rules and regulations to allow for crypto-based trading.”To achieve President Trump’s vision of making America the crypto capital of the world, the SEC must holistically consider the potential benefits and risks of moving our markets from an off-chain environment to an on-chain one,” SEC chair Paul Atkins said in remarks to an “American Leadership in the Digital Finance Revolution” conference Thursday afternoon , referring to blockchain technology that enables cryptocurrencies, but has other applications as well.”I have directed the…
