Key Takeaways
- • Galaxy Digital Inc. reported third-quarter revenue of $8.06 billion, above the $7.8 billion estimate from a Bloomberg survey of analysts.
- • Net income was $323 million, or 66 cents per share, down about 36% from the year-ago period.
- • Revenue also declined from the year-ago period, despite beating consensus expectations.
- • Shares rose about 8% in pre-market trading after the results were released.
- • Coverage linked the share move to gains in AI data center operations, though the available reporting offers little detail on that business.
Summary
Galaxy Digital Inc., the crypto financial services conglomerate founded and run by billionaire Michael Novogratz, reported third-quarter results that exceeded analyst expectations, according to Bloomberg. The results sent the company's shares higher in pre-market trading.
Revenue came in at $8.06 billion, compared with a $7.8 billion estimate from a Bloomberg survey of analysts. Net income was $323 million, or 66 cents per share, down roughly 36% from the year-ago period. Revenue also fell from the year-ago quarter, so the beat reflects expectations that were set well below the prior-year level rather than year-over-year growth.
Shares of Galaxy rose about 8% in pre-market trading. The Bloomberg headline and subhead attribute the move to gains from AI data center operations. The available reporting does not provide further detail on the contribution of that business line to results.
Revenue came in at $8.06 billion, compared with a $7.8 billion estimate from a Bloomberg survey of analysts. Net income was $323 million, or 66 cents per share, down roughly 36% from the year-ago period. Revenue also fell from the year-ago quarter, so the beat reflects expectations that were set well below the prior-year level rather than year-over-year growth.
Shares of Galaxy rose about 8% in pre-market trading. The Bloomberg headline and subhead attribute the move to gains from AI data center operations. The available reporting does not provide further detail on the contribution of that business line to results.
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