WEBVTT - Coinbase Jumps, Reddit Soars, Roku Falls

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's take a look at some of the stocks on

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<v Speaker 3>the move today. I'm Paul Swingey alongside Scarlet Fu and

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<v Speaker 3>we're joined by Bloombergs Isabelle Lee, Isabelle, what are you

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<v Speaker 3>looking at?

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<v Speaker 1>We have to talk about Coinbase. So the stock is

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<v Speaker 1>higher by around six percent. The company reported revenue that

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<v Speaker 1>exceeded estimates, and of course this was helped by crypto,

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<v Speaker 1>which really just rose to record highs. Bitcoin is now

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<v Speaker 1>around one hundred and ten though, so it's paired back

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<v Speaker 1>some of those record games from one hundred and twenty

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<v Speaker 1>five thousand, but still it's six digits. So crypt Coinbase

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<v Speaker 1>is the largest US crypto exchange. It reported revenue that

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<v Speaker 1>increased by fifty five percent. Netcin income also rows five fold.

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<v Speaker 1>Trading volume also increased. Overall, has just really been a

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<v Speaker 1>great year for digital assets. We've talked about this the

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<v Speaker 1>whole year because of the pro crypto administration, the first

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<v Speaker 1>law regulating stable points in July and Brian Armstrong, the

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<v Speaker 1>CEO of the company is now one of the biggest

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<v Speaker 1>high profile crypto advocates and really always supports Trump, and

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<v Speaker 1>a lot of brokers have upgraded Coinbase from sell to buy.

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<v Speaker 2>Yeah, a lot of momentum in that crypto industry. All right,

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<v Speaker 2>let's talk about Reddit.

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<v Speaker 1>Reddit r DDT is the ticker. The stock is up

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<v Speaker 1>by more than fifteen percent after results that beat expectations.

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<v Speaker 1>That's the highest in a month. It also gave an

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<v Speaker 1>outlook that is above analyst consensus. So Reddit is a

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<v Speaker 1>social media platform and this code earnings report is a

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<v Speaker 1>sign that the company's at business will continue to grow

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<v Speaker 1>really at a steady clip after its IPO around a

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<v Speaker 1>year and a half ago. So since listing, Reddit just

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<v Speaker 1>really has begun to try to diversify its ad business.

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<v Speaker 1>It also tried to capitalize on the growing trove of

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<v Speaker 1>you know, user posts and now AI companies are using

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<v Speaker 1>that they use those to train valuable AI models, And

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<v Speaker 1>the Reddit COO actually said that they're an AI winner

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<v Speaker 1>because they're asset light, because their content is what a

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<v Speaker 1>lot of the companies are using. And I find myself

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<v Speaker 1>actually using Reddit more and more. Me too, because I

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<v Speaker 1>feel like it's honest. So I look at the site

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<v Speaker 1>for reviews and like thoughts of never.

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<v Speaker 3>Really you should dry.

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<v Speaker 2>You just need to find.

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<v Speaker 3>Something when I do a search for it, and I'll

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<v Speaker 3>find that there's is.

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<v Speaker 1>This a good hair straightener? Reddit?

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<v Speaker 3>And then it will come up. Yes, reddit is real people, really.

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<v Speaker 1>Yes, passionate people.

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<v Speaker 3>Can I do to my Google search rate it?

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<v Speaker 1>You've got to move on, Paul, We will watch it

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<v Speaker 1>later after the show.

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<v Speaker 3>What's going on there?

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<v Speaker 1>Real good? The tickers are okay. You shares are up

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<v Speaker 1>more than fifteen percent. That's the highest since April twenty

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<v Speaker 1>twenty two if you go to since si ns go.

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<v Speaker 1>That comes after the company reported earnings that really beat expectations.

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<v Speaker 1>It also marked the company's first quarter with positive operating

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<v Speaker 1>income since twenty twenty one, and of course Wall Street

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<v Speaker 1>is positive across the board. Bloomberg Intelligence said that results

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<v Speaker 1>are good, although not gangbusters. Benjmark said that this is

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<v Speaker 1>also a good earnings report. Their only concern is that

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<v Speaker 1>they've consistently had and we'll have expectations that are a

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<v Speaker 1>little too far ahead from reality. But for now it's

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<v Speaker 1>good and ever Core also said it's a generally solid report.

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<v Speaker 3>I'll tell you what the shout out to Lar Martin

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<v Speaker 3>and Needham and Company. She's been pounding the table on

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<v Speaker 3>this name for a couple of years. This has been

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<v Speaker 3>like our top pick, and she's been so right on

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<v Speaker 3>that name. So we'll shut up Barmart.

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<v Speaker 2>There this stock Movers report from Bloomberg Radio. Check back

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<v Speaker 2>companies making news on Wall Street and for the latest

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