Gemini Q3 Earnings Miss: $159.5M Loss and Shares Slide
Gemini Q3 earnins no reach wetin dem hope as di crypto exchange show net loss of $159.5 million ($6.67 per share), double di analysts dem prediction for dia first report after IPO. Even tho revenue rise to $50.6 million wey pass Coinbase growth—heavy marketing and IPO costs still drag di results. Shares drop over 8% for pre-market trading, continue di fall since September IPO. Gemini Q3 earnins also show gains from trading volume, staking services plus crypto reward credit card, and CFO Dan Chen talk say di balance sheet strong and liquidity plenty. For front, Gemini wan build one multi-product “super app” wey go join tokenized dollars, stocks and digital goods. Di company don apply to CFTC for regulated prediction markets for sports and political events. Traders suppose watch how market react as these long-term plans dey unfold.
Bearish
Di report wey get net loss wey pass wetin dem expect plus cost wey get to do with IPO join make Gemini share price drop pass 8% for pre-market trading, dis one show say people no too get faith and market dey press Gemini share down waka for short term. Even though revenue dey grow and dem get strong money position for future, the market quick quick reaction to the Q3 earnings miss plus the extra cost show say traders dey reason well well.