Bullish shares dip on Q1 earnings miss, $605M loss
Bullish stock dropped in trading with the crypto exchange’s first-quarter earnings miss, adding to the crypto companies that have underperformed in the quarter.
Shares in the US crypto exchange Bullish fell on Thursday after the company’s first-quarter earnings missed analysts’ top and bottom line expectations.
Bullish’s adjusted revenue for the quarter ended March 31 was $92.8 million, up from $62.4 million a year ago, but below Wall Street expectations of $95.4 million.
The company reported a net loss of $604.9 million, deeper than its $348.6 million loss in the prior-year period. Its adjusted earnings per share were 13 cents, below estimates of 17 cents.