Markets
What to Know:
- Bullish has gone and done it again-second-quarter earnings smashed Wall Street’s best guesses.
- The crypto whiz went public on the New York Stock Exchange at a modest $37 a share in August. Don’t worry, it’s doing just fine now.
- Third-quarter expectations? Oh, they’re expecting higher adjusted Ebitda-because why not?
In the latest twist of this financial melodrama, Bullish (BLSH), the proud owner of CoinDesk, reported a quite impressive earnings per share (EPS) of $0.93 for the second quarter, utterly obliterating the average analyst estimate of a meek $0.03, according to FactSet’s ever-diligent data crunchers. Don’t fret, the firm also reported adjusted revenue of $57 million-though slightly shy of the $60.7 million estimate. Still, who’s counting when you’re *crushing* it?
Tom Farley, the CEO (aka the captain of this ship), boldly declared in a filing that the firm’s “liquidity services growth” was “exciting”-because when you’re talking crypto, what else could be more thrilling? He also mentioned the firm’s “strong business momentum” in the third quarter, proving once again that momentum is a truly magical thing. 💸
But let’s talk numbers-because that’s what gets the people excited. Bullish saw its trading volume rocket to $179.6 billion, a considerable jump from $133.0 billion the year before. For the next quarter, they’re projecting trading volume somewhere between $133.0 billion to $142.0 billion. Just a casual range of billions. No big deal. 😎
As for adjusted Ebitda? Well, they’re expecting a bit more this time around-$25 million to $28 million for Q3, compared to just $8.1 million last quarter. It’s always nice when growth comes in such neat, well-defined numbers.
This delightful earnings report marks the company’s first since its grand entrance onto the New York Stock Exchange (NYSE) in August. For those of you keeping score at home, BLSH’s IPO price was set at $37 a share, and now it’s sitting pretty at $53.54-up a cheeky 44%. Clearly, IPOs are having a moment, darling.
But wait, there’s more! The stock had a little afternoon glow-up during trading hours after Bullish managed to secure a BitLicense from the New York State Department of Financial Services. Analysts have called this a crucial win, one that opens the floodgates for the firm to expand its operations in the U.S. Yes, ladies and gents, the U.S. is officially on the table. ✨
Oh, and in case you missed it, crypto prices went on a little party from April to June-bitcoin shot up 30% that quarter, making it the star of the asset world. The CoinDesk20 Index, which tracks the broader market, also rose by 23%. So, as you can see, things are going rather well. At least for now…
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2025-09-18 01:10