Crypto firm Coinbase posts 1st income gain in 2 years

Company sees net income of $95M in 2023, significant rebound from $2.62B net loss for full year of 2022

By Ovunc Kutlu

ISTANBUL (AA) — US-based cryptocurrency exchange platform Coinbase saw its first income gain in two years, as demand for cryptos are on the rise.

Coinbase posted a net income of $273 million in the fourth quarter of 2023, according to its financial results statement released late Thursday.

The figure is a recovery from a $2 million loss recorded in the third quarter and an even greater comeback from $557 million net loss in the final quarter of 2022.

For the full year of 2023, the company saw a net income of $95 million, a significant rebound from a $2.62 billion net loss for all of 2022.

The Coinbase stock price was up 15.1% at 12.44 p.m. EDT (1744GMT) Friday on the Nasdaq.

Kaynak:

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