KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Coinbase Global Inc. announced a record-breaking 2024, with revenue doubling to $6.6 billion, but despite surpassing Wall Street expectations, its stock fell 1.5% in after-hours trading.
📊 Coinbase’s Impressive Q4 Results
🔹 Q4 revenue: $2.3 billion (vs. $1.8 billion expected), up 88% from Q3.
🔹 Transaction revenue: $1.6 billion, driven by higher crypto prices.
🔹 Subscription and services revenue: $641 million (exceeding guidance of $505M–$580M).
🔹 Full-year 2024 revenue: $6.6 billion (up from $2.93 billion in 2023).
💬 Coinbase: "Crypto’s voice was heard in the U.S. elections, and regulatory headwinds are easing as the Trump administration pushes to make the U.S. the global crypto hub."
🚀 Market Reaction & Outlook
📉 Despite strong earnings, Coinbase shares dipped 1.5% in extended trading, though the stock is up 112% over the past 12 months, compared to the S&P 500’s 23% gain.
📌 Q1 2025 Guidance:
- Subscription and services revenue forecasted between $685M and $765M.
💬 Needham Analysts: "Robinhood’s earnings hinted at a strong Q4 for Coinbase, and Coinbase delivered."
💬 Oppenheimer Analysts: "Coinbase regained market share from competitors like Robinhood in December and January."
🛡️ Regulation Shift Boosts Crypto Optimism
🔹 Coinbase highlighted a positive shift in U.S. crypto regulation, with the Trump administration aiming to make the U.S. the 'crypto capital of the planet.'
🔹 Global leaders are also ramping up investment in crypto, Coinbase noted, signaling growing institutional interest.
📌 However, Wall Street remains cautious, with some investors questioning the sustainability of Coinbase’s rapid growth amid market volatility.
🔍 What’s Next for Coinbase?
✔️ Crypto market volatility will continue to impact transaction revenue.
✔️ Regulatory clarity could drive further institutional adoption.
✔️ Subscription growth from Coinbase One is a key revenue stream to watch.
📌 While Coinbase celebrates a new era, investors are waiting to see if the momentum can last.
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