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Coinbase’s (COIN) First-Quarter Profit, Revenue Top Forecasts

Coinbase Global Inc. posted higher-than-forecast first-quarter revenue and profit as a resurgence in cryptocurrency prices reawakened demand from individual investors. Revenue more than doubled to $1.58 billion, topping the $1.32 billion average estimate of analysts surveyed by Bloomberg. Net income was $1.17 billion, or $4.40 a share, compared with a loss of $79 million, or 34 cents, a year earlier, the largest US crypto exchange said in a shareholder letter Thursday. Net income benefitted from...

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