Bullish misses first-quarter revenue estimates as transaction revenue slips
CoinDesk
Bullish reported lower-than-expected first-quarter revenue as reduced crypto trading activity across the industry impacted its financial performance.Summary
Bullish, the parent company of CoinDesk, reported first-quarter adjusted revenue of $92.8 million, falling short of the $94.9 million anticipated by analysts. The shortfall was driven by a decline in adjusted transaction revenue amid a broader market pullback in digital assets. While adjusted EBITDA rose to $35.1 million compared to the previous year, it also missed consensus estimates. The company reported a net loss of $604.9 million, and its stock fell 7.9% in pre-market trading. This trend mirrors struggles at other major crypto-linked firms like Coinbase and Robinhood, which also reported earnings misses due to lower trading volumes.
(Source：CoinDesk)