BUZZ-Coinbase climbs ahead of results as Robinhood signals strong retail trading activity

Reuters
02-13
BUZZ-Coinbase climbs ahead of results as <a href="https://laohu8.com/S/HOOD">Robinhood</a> signals strong retail trading activity

** Shares of Coinbase COIN.O up 3.1% at $283.40 premarket after upbeat read-across from Robinhood HOOD.O results

** Trading platform Robinhood posts record fourth-quarter revenue and profit, in large part fueled by crypto trading frenzy

** Robinhood's transaction-based revenue from crypto trading surged over 700% in the fourth quarter to $358 mln

** "We are expecting a strong Q4 from COIN after HOOD posted better than expected results ... and mgmt. expressed a high degree of confidence in 2025 stating that 'AI and Crypto' were main focus items," says Needham analyst John Todaro

** After markets close, the U.S. crypto exchange is likely to report Q4 revenue jumped to $1.87 billion from $822.4 million a year ago, according to average analyst estimate on LSEG, as bitcoin's surge over $100,000 milestone is expected to have attracted traders

** COIN's commentary on retail activity YTD, stablecoin adoption, and crypto regulation and legislation timetables would be in focus, Todaro says

** COIN shares up 87% over the past 12 months, compared to 365% surge in HOOD shares

(Reporting by Medha Singh)

((medha.singh@thomsonreuters.com))

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