Gemini, the cryptocurrency exchange, is seeing a boost after reporting stronger-than-expected results and receiving new investment. Multiple reports say Gemini’s founders’ fund, Winklevoss Capital Fund, invests $100 million in the company. Separately, Gemini reports a 42% year-over-year increase in revenue for the first quarter, indicating improved performance versus the prior year. CNBC also reports that Gemini’s revenue tops analysts’ expectations and that its quarterly loss is narrower than what analysts expected, citing FactSet. Taken together, the investment announcement and the company’s financial update contribute to the stock movement described by the outlets. The reports do not provide additional detail on how the investment is structured or on the precise consensus figures beyond noting that revenue beat expectations and the loss came in smaller than analysts anticipated. Overall, the coverage centers on the $100 million funding from Winklevoss Capital and Gemini’s reported Q1 revenue growth and improved-than-expected loss profile.
Gemini shares rise after Winklevoss Capital Fund invests $100 million
Gemini, the cryptocurrency exchange, is seeing a boost after reporting stronger-than-expected results and receiving new investment. Multiple reports say Gemini’s founders’ fund, Winklevoss Capital Fun...
- Winklevoss Capital Fund invests $100 million in crypto exchange Gemini.
- Gemini reports first-quarter revenue that rises 42% year over year.
- Reported Q1 revenue beats analyst expectations, according to FactSet.
- Gemini’s quarterly loss is narrower than analysts expected.
- The combination of the investment and earnings results drives the stock’s move described in the reports.
Crypto exchange Gemini secured a $100 million Bitcoin investment from its founders’ fund, and revealed a 42% YOY Q1 revenue bump.
3 months agoThe company also topped revenue expectations for the quarter and posted a narrower-than-expected loss than analysts anticipated, according to FactSet.
3 months ago
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