Coinbase reports rise on quarterly profit subscription strength
Net profit attributable to common stockholders rose to $1.43 billion, or $5.14 per share, in the three months ended June 30, compared with $36.13 million, or 14 cents apiece, a year earlier.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
28 minutes ago
- Reuters
Standard Chartered inks deal to sell jurisdictional forest credits in Brazil
LONDON, Aug 7 (Reuters) - Standard Chartered has agreed to sell millions of carbon credits aimed at protecting the Amazon rainforest on behalf of the Brazilian state of Acre as it looks to build out its carbon credits business and foster trust in the nascent market, a senior banker told Reuters. Standard Chartered's agreement to exclusively sell forest carbon credits generated in Acre over five years is one of the first examples of a major international bank working with a sub-national government in this way to support forest conservation, the bank said. The bank's involvement could bring legitimacy to a market which has struggled in recent months after prosecutors in Brazil's Para state sought to annul a similar $180 million carbon offset scheme amid concerns about forward contracts and local community rights. "We are doing everything we can to ensure these are high quality from an environmental point of view and that a credit really does reduce a tonne of carbon," said Chris Leeds, head of carbon markets development at the bank. "It is a very complicated process." The project is expected to generate up to 5 million credits in 2026, bringing in up to $150 million. Carbon credit projects that claim to avoid deforestation have faced intense scrutiny in the past because of the challenges involved in proving how many trees projects saved from being razed. Jurisdictional forest carbon credits are generated by national or state-level programmes aimed at reducing emissions from deforestation. They are designed specifically to reduce the risk that projects overstate the carbon-reduction benefits they claim. Local and indigenous communities are set to receive 72% of the net funds generated by the state and have been part of a consultation process, the main phase of which began in May 2025. Unlike Para's deal, Acre's is not a forward sale, Leeds added. "There is no commitment on our part to sell the credits today. That is the difference." Several Brazilian states have signed agreements to protect vast swathes of forest in return for investment including the State of Piauí in July.
Reuters
28 minutes ago
- Reuters
Japan's Topix hits record high on Wall Street rally, solid earnings
TOKYO, Aug 7 (Reuters) - Japan's Topix index touched a record high on Thursday, tracking strong overnight gains on Wall Street, while solid corporate earnings from domestic firms reinforced expectations of wage growth. The broader Topix (.TOPX), opens new tab was up nearly 1% at 2,993.14, as of 0206 GMT. Earlier in the session, the benchmark index hit an all-time peak of 2,993.21. The Nikkei (.N225), opens new tab climbed 0.9% to 41,151.07. Both indexes were on track for a third consecutive session of gains, provided the current momentum holds. The three-day rally follows a sharp decline on Monday, when the Nikkei posted its largest drop in two months amid growing concerns over the U.S. economy and trade. "The market is now convinced that the U.S. economy will not slow down," said Hiroyuki Ueno, chief strategist, Sumitomo Mitsui Trust Asset Management. "That is important for the Bank of Japan's decision process for raising interest rates. With solid corporate earnings results and a trend for wage increases, the market now expects the BOJ to raise rates by the end of the year," Ueno said. However, government data released on Wednesday indicated that Japan's real wages fell for a sixth consecutive month in June, as inflation continued to outpace pay growth. The trend clouded the outlook for a BOJ policy shift, with wage growth seen as a key indicator for sustainable inflation. There is growing expectation that the U.S. Federal Reserve could begin cutting interest rates as early as September to support the economy. Shares of Mitsubishi UFJ Financial Group (8306.T), opens new tab rose 1.8%, providing the biggest boost to the Topix, while Sumitomo Mitsui Financial Group (8316.T), opens new tab gained 1.56%. M3's shares surged 22% after Goldman Sachs raised the target price for the medical services platform operator to 2,300 yen from 2,250 yen. Cosmetic maker Shiseido (4911.T), opens new tab jumped 10%. Chip-making equipment maker Tokyo Electron (8035.T), opens new tab fell for a third day, falling 2.7% on Thursday to weigh on the Nikkei the most. Chip-testing equipment maker Advantest (6857.T), opens new tab fell 0.7%. Shares of chipmakers declined on concerns over a potential slowdown in global chip production after U.S. President Donald Trump said Washington would impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so. Of the more than 1,600 stocks trading on the Tokyo Stock Exchange's Prime Market, 70% advanced and 26% fell, and 3% were flat.
Reuters
28 minutes ago
- Reuters
Deutsche Telekom meets Q2 profit expectations, lifts guidance
Aug 7 - Deutsche Telekom ( opens new tab reported second quarter core profit in line with analyst expectations on Thursday, citing continued growth in both Germany and the U.S., and edged up its full-year profit guidance. The Germany-based telecoms giant reported second quarter adjusted earnings before interest, taxes and amortization after leases (EBITDA AL) of 11 billion euros ($13 billion), compared with the 10.95 billion euros expected by analysts in a company provided poll. "We are again seeing sustained strong growth on both sides of the Atlantic throughout the second quarter," Chief Executive Tim Hoettges said in a statement. The group slightly raised its core profit guidance for 2025, now expecting more than 45 billion euros, adjusted from around 45 billion euros expected before. It also adjusted its free cash flow AL expectations for 2025, now expecting over 20 billion euros from around 20 billion euros. The new guidance comes after its New York listed subsidiary T-Mobile US (TMUS.O), opens new tab in July raised its annual forecast for postpaid net customer additions after adding more wireless subscribers than expected in the second quarter. ($1 = 0.8566 euros)
