Coindesk owner Bullish (BLSH) beats earnings per share to an average analyst estimate, and expects a higher adjusted EBITDA in the next quarter.
Crypto Platform reported earnings per share (EPS) of $0.93 in the second quarter, with average analyst estimates broken by $0.03, according to Factset data. Bullish also reported adjusted revenue of $57 million in the second quarter. That’s an estimate of $60.7 million.
Bullish CEO Tom Farley said in his filing, claiming that Crypto Firm “experienced growth in liquidity services carried out at a successful consensus meeting,” he said in the filing, claiming he was seeing “strong business momentum” in the third quarter.
The company’s trading volume rose sharply to $179.6 billion, up from $133 billion in the same period last year. In the next quarter, Bullish will see trading volumes ranging from $133 billion to $1420 billion.
Bullish also expects $25 million to $28 million in adjusted EBITDA for the second quarter.
The report marks the company’s first quarterly report since it was published on the New York Stock Exchange (NYSE) in August. BLSH’s IPO price is set at $37 per share, currently at $53.54, an increase of 44% from the IPO price.
Stocks rose during normal trading hours on Wednesday after the company secured Bit Resense from the New York State Department of Financial Services. Analysts call this a critical regulatory approval that opens the door for the company to expand in the US
In post-market trading, stock prices have increased by around 1%.
Cryptocurrency prices skyrocketed in the months from April to June, with Bitcoin rising 30% in that quarter, making it the world’s highest major asset. The Coindesk20 index, which tracks the broader market, rose 23% over the same period.
