Why Coinbase Stock Jumped 16.9% Today

Shares of crypto company Coinbase (COIN 11.72%) jumped as much as 16.9% in trading on Friday after the company reported fourth-quarter 2023 financial results. Shares drifted lower late in trading and are up 13.5% at 2:30 p.m. ET. Coinbase's great quarterRevenue jumped nearly 50% to $953.8 million, easily topping the $826.1 million that analysts were expecting. Net income was $275.7 million, or $1.04 per share, which easily topped the $0.02 in earnings that analysts expected.Trading volume nearly doubled seq ...