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Bullish Q1 performance below expectations: Adjusted revenue of $92.8 million, trading revenue down year-over-year
BlockBeats News, May 14 — US-listed crypto trading platform Bullish (BLSH) announced its Q1 earnings today, with adjusted revenue of $92.8 million, below analysts’ expectations of $94.9 million; adjusted EBITDA was $35.1 million, up year-over-year but still below the expected $38 million. The company recorded a net loss of $604.9 million, with a loss of $3.85 per share, widening year-over-year, mainly due to weak crypto asset trading activity at the beginning of the quarter. Trading revenue declined year-over-year, coupled with a correction in the prices of assets like Bitcoin, leading to pressure on overall performance.