Bullish Q1 Earnings Below Expectations: Adjusted Revenue of $92.8 Million, Trading Revenue Down Year-over-Year

BlockBeats News, May 14th - The US-listed crypto exchange platform Bullish (BLSH) announced its Q1 earnings today. The adjusted revenue was $92.8 million, below analysts' expectations of $94.9 million. The adjusted EBITDA was $35.1 million, showing a year-over-year increase but still below the expected $38 million. The company reported a net loss of $604.9 million, with a loss per share of $3.85, widening year-over-year, mainly impacted by the softness in cryptocurrency trading activity at the beginning of the quarter. A year-over-year decline in trading revenue, combined with a pullback in asset prices such as Bitcoin, resulted in overall performance pressure.