"Bitcoin has also surprisingly underperformed the stock market, as it is only up by 6% year-to-date, but its 515% gain over the past five years bodes well for Coinbase's long-term prospects. Even with Bitcoin growth lagging the market and Coinbase doing the same, the company posted exceptional financial results in the third quarter. Revenue increased by 59% year-over-year while net income surged by 473% year-over-year. Coinbase wrapped up the quarter with a 24.12% net profit margin and only trades at a 24.5 P/E ratio."
"SoFi Technologies ( NASDAQ:SOFI) has finally lived up to lofty expectations and has more than doubled in value year-to-date. The digital bank has excellent margins and is diversifying into multiple segments, which should accelerate revenue growth in the future. The company's third quarter results were optimistic for bulls. Revenue increased by 38% year-over-year, with the number of members jumping by 35% year-over-year. SoFi now has more than 12.6 million members. Net income also more than doubled year-over-year."
Fast-growing financial firms are achieving strong gains by capitalizing on crypto and digital banking trends. Coinbase has roughly 100 million users and recorded a 10% stock gain over the past year, with Bitcoin up 6% year-to-date but 515% over five years. Coinbase posted Q3 revenue growth of 59% year-over-year, net income up 473%, a 24.12% net profit margin, and trades at a 24.5 P/E. SoFi has more than doubled year-to-date, increased revenue 38% year-over-year, added 35% more members to reach 12.6 million, and saw net income more than double. SoFi operates six high-growth revenue segments.
Read at 24/7 Wall St.
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