Coinbase Jumps, Reddit Soars, Roku Falls

On this episode of Stock Movers:
- Coinbase (COIN) advances 4% after the largest US crypto exchanged reported third-quarter revenue that exceeded estimates following an uptick in trading as token prices climbed to record highs.
- Reddit (RDDT) gains 10% after the social-media company reported third-quarter results that beat expectations and gave an outlook that is above the analyst consensus
-Roku (ROKU) shares are down 4% after the streaming-video platform company reported its third-quarter results and gave an outlook. While analysts are broadly positive, they said the results aren’t enough to meet high expectations

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.

Speaker 2 (00:08):
The Stock Movers Report, your roundup of companies making moves
in the stock market, harnessing the power of Bloomberg Data.

Speaker 3 (00:16):
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?

Speaker 1 (00:23):
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

(00:45):
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

(01:07):
a lot of brokers have upgraded Coinbase from sell to buy.

Speaker 2 (01:11):
Yeah, a lot of momentum in that crypto industry. All right,
let's talk about Reddit.

Speaker 1 (01:15):
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

(01:35):
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

(01:56):
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.

Speaker 3 (02:06):
Really you should dry.

Speaker 2 (02:07):
You just need to find.

Speaker 3 (02:08):
Something when I do a search for it, and I'll
find that there's is.

Speaker 1 (02:11):
This a good hair straightener? Reddit?

Speaker 3 (02:13):
And then it will come up. Yes, reddit is real people, really.

Speaker 1 (02:16):
Yes, passionate people.

Speaker 3 (02:18):
Can I do to my Google search rate it?

Speaker 1 (02:21):
You've got to move on, Paul, We will watch it
later after the show.

Speaker 3 (02:25):
What's going on there?

Speaker 1 (02:26):
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

(02:47):
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.

Speaker 3 (03:01):
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.

Speaker 2 (03:11):
There this stock Movers report from Bloomberg Radio. Check back
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companies making news on Wall Street and for the latest
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