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：新股)

• ·请问省呗审核一般要多久？我比较急用钱。
• ·广发银行信用卡怎么查询已分期的账单？
• ·Chain detectives gather to investigate! How well-known internet celebrity MrBeast profited tens of millions of dollars by harvesting leeks
• ·10月31日国泰睿毅三年持有期混合C净值增长0.57%，近3个月累计上涨19.35%
• ·怎么查自己工资交了多少税
• ·2012比特币挖出多少
• ·怎么才能提升玖富万卡的可借款额度呢？
• ·10月31日国投瑞银医疗保健混合C净值下跌0.37%，今年来累计下跌12.08%
• ·莱特币2016的价格
• ·10月31日恒越匠心优选一年持有混合A净值下跌1.44%，今年来累计下跌15.85%
• ·bcc交易所
• ·10月31日浦银均衡优选6个月持有混合C净值增长0.64%，近3个月累计上涨16.66%
• ·卡尔达诺鲸鱼数量正在缓慢下降， ADA币价格能否保持看涨趋势？
• ·Uni币共多少枚-uni币总量有多少
• ·像打游戏一样投资加密，找到属于你的专注领域
• ·在玖富万卡申请借贷放款会查询征信吗?