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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some of the stocks on the move today. I'm Paul Swingey alongside Scarlet Fu and we're joined by Bloombergs Isabelle Lee, Isabelle, what are you looking at?
We have to talk about Coinbase. So the stock is higher by around six percent. The company reported revenue that exceeded estimates, and of course this was helped by crypto, which really just rose to record highs. Bitcoin is now around one hundred and ten though, so it's paired back some of those record games from one hundred and twenty five thousand, but still it's six digits. So crypt Coinbase is the largest US crypto exchange. It reported revenue that
increased by fifty five percent. Netcin income also rows five fold. Trading volume also increased. Overall, has just really been a great year for digital assets. We've talked about this the whole year because of the pro crypto administration, the first law regulating stable points in July and Brian Armstrong, the CEO of the company is now one of the biggest high profile crypto advocates and really always supports Trump, and a lot of brokers have upgraded Coinbase from sell to buy.
Yeah, a lot of momentum in that crypto industry. All right, let's talk about Reddit.
Reddit r DDT is the ticker. The stock is up by more than fifteen percent after results that beat expectations. That's the highest in a month. It also gave an outlook that is above analyst consensus. So Reddit is a social media platform and this code earnings report is a sign that the company's at business will continue to grow really at a steady clip after its IPO around a year and a half ago. So since listing, Reddit just really has begun to try to diversify its ad business.
It also tried to capitalize on the growing trove of you know, user posts and now AI companies are using that they use those to train valuable AI models, And the Reddit COO actually said that they're an AI winner because they're asset light, because their content is what a lot of the companies are using. And I find myself actually using Reddit more and more. Me too, because I feel like it's honest. So I look at the site for reviews and like thoughts of never.
Really you should dry.
You just need to find.
Something when I do a search for it, and I'll find that there's is.
This a good hair straightener? Reddit?
And then it will come up. Yes, reddit is real people, really.
Yes, passionate people.
Can I do to my Google search rate it?
You've got to move on, Paul, We will watch it later after the show.
What's going on there?
Real good? The tickers are okay. You shares are up more than fifteen percent. That's the highest since April twenty twenty two if you go to since si ns go. That comes after the company reported earnings that really beat expectations. It also marked the company's first quarter with positive operating income since twenty twenty one, and of course Wall Street is positive across the board. Bloomberg Intelligence said that results are good, although not gangbusters. Benjmark said that this is
also a good earnings report. Their only concern is that they've consistently had and we'll have expectations that are a little too far ahead from reality. But for now it's good and ever Core also said it's a generally solid report.
I'll tell you what the shout out to Lar Martin and Needham and Company. She's been pounding the table on this name for a couple of years. This has been like our top pick, and she's been so right on that name. So we'll shut up Barmart.
There this stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.