Bullish’s Q2 Earnings Surpass Wall Street Estimates

Bullish (BLSH), owner of CoinDesk, reported earnings per share (EPS) of $0.93 in Q2, surpassing the average analyst estimate of $0.03.
Adjusted revenue for Q2 was $57 million, compared to an estimate of $60.7 million.
The firm's trading volume increased to $179.6 billion from $133.0 billion year-on-year. For the next quarter, expected volume is between $133.0 billion and $142.0 billion.
Expected adjusted EBITDA for Q3 is $25 million to $28 million, up from $8.1 million in Q2.
BLSH's stock price rose 44% since its IPO on the NYSE in August, from $37 to $53.54.
The company obtained a BitLicense from the New York State Department of Financial Services, enhancing its U.S. expansion prospects.
Crypto prices rose significantly from April to June; [Bitcoin](https://holder.io/coins/btc/) gained 30%, and the CoinDesk20 Index increased by 23% in that period.