Galaxy Digital Holdings BRPHF revenue and profits jumped during the first quarter, bolstered by its mining operation's record performance amid the run-up in cryptocurrency prices. The digital assets-focused financial services firm said Monday its net income rose to $421.7 million ($1.23 per share) in the three-month period ending in March, a roughly 214% increase from the year-prior quarter, according to its latest financial statement. The bottom line increase came off of the company's surging revenue, which was $259.7 million, up from $146.7 million for the same time last year. The strong results are the latest sign Galaxy is on the mend after booking a $1 billion net loss in 2022.
Read the full story at The Block.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
