Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some of the stocks on
Speaker 3: the move today. I'm Paul Swingey alongside Scarlet Fu and
Speaker 3: we're joined by Bloombergs Isabelle Lee, Isabelle, what are you
Speaker 3: looking at?
Speaker 1: We have to talk about Coinbase. So the stock is
Speaker 1: higher by around six percent. The company reported revenue that
Speaker 1: exceeded estimates, and of course this was helped by crypto,
Speaker 1: which really just rose to record highs. Bitcoin is now
Speaker 1: around one hundred and ten though, so it's paired back
Speaker 1: some of those record games from one hundred and twenty
Speaker 1: five thousand, but still it's six digits. So crypt Coinbase
Speaker 1: is the largest US crypto exchange. It reported revenue that
Speaker 1: increased by fifty five percent. Netcin income also rows five fold.
Speaker 1: Trading volume also increased. Overall, has just really been a
Speaker 1: great year for digital assets. We've talked about this the
Speaker 1: whole year because of the pro crypto administration, the first
Speaker 1: law regulating stable points in July and Brian Armstrong, the
Speaker 1: CEO of the company is now one of the biggest
Speaker 1: high profile crypto advocates and really always supports Trump, and
Speaker 1: a lot of brokers have upgraded Coinbase from sell to buy.
Speaker 2: Yeah, a lot of momentum in that crypto industry. All right,
Speaker 2: let's talk about Reddit.
Speaker 1: Reddit r DDT is the ticker. The stock is up
Speaker 1: by more than fifteen percent after results that beat expectations.
Speaker 1: That's the highest in a month. It also gave an
Speaker 1: outlook that is above analyst consensus. So Reddit is a
Speaker 1: social media platform and this code earnings report is a
Speaker 1: sign that the company's at business will continue to grow
Speaker 1: really at a steady clip after its IPO around a
Speaker 1: year and a half ago. So since listing, Reddit just
Speaker 1: really has begun to try to diversify its ad business.
Speaker 1: It also tried to capitalize on the growing trove of
Speaker 1: you know, user posts and now AI companies are using
Speaker 1: that they use those to train valuable AI models, And
Speaker 1: the Reddit COO actually said that they're an AI winner
Speaker 1: because they're asset light, because their content is what a
Speaker 1: lot of the companies are using. And I find myself
Speaker 1: actually using Reddit more and more. Me too, because I
Speaker 1: feel like it's honest. So I look at the site
Speaker 1: for reviews and like thoughts of never.
Speaker 3: Really you should dry.
Speaker 2: You just need to find.
Speaker 3: Something when I do a search for it, and I'll
Speaker 3: find that there's is.
Speaker 1: This a good hair straightener? Reddit?
Speaker 3: And then it will come up. Yes, reddit is real people, really.
Speaker 1: Yes, passionate people.
Speaker 3: Can I do to my Google search rate it?
Speaker 1: You've got to move on, Paul, We will watch it
Speaker 1: later after the show.
Speaker 3: What's going on there?
Speaker 1: Real good? The tickers are okay. You shares are up
Speaker 1: more than fifteen percent. That's the highest since April twenty
Speaker 1: twenty two if you go to since si ns go.
Speaker 1: That comes after the company reported earnings that really beat expectations.
Speaker 1: It also marked the company's first quarter with positive operating
Speaker 1: income since twenty twenty one, and of course Wall Street
Speaker 1: is positive across the board. Bloomberg Intelligence said that results
Speaker 1: are good, although not gangbusters. Benjmark said that this is
Speaker 1: also a good earnings report. Their only concern is that
Speaker 1: they've consistently had and we'll have expectations that are a
Speaker 1: little too far ahead from reality. But for now it's
Speaker 1: good and ever Core also said it's a generally solid report.
Speaker 3: I'll tell you what the shout out to Lar Martin
Speaker 3: and Needham and Company. She's been pounding the table on
Speaker 3: this name for a couple of years. This has been
Speaker 3: like our top pick, and she's been so right on
Speaker 3: that name. So we'll shut up Barmart.
Speaker 2: There this stock Movers report from Bloomberg Radio. Check back
Speaker 2: with us throughout the day for the latest roundup of
Speaker 2: companies making news on Wall Street and for the latest
Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us
Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android
Speaker 2: Auto with the Bloomberg Business app.