According to Bloomberg, Gemini released its first earnings report since going public, showing a Q3 net loss of $6.67 per share, significantly higher than the market expectation of $3.24. After the report was released, the company's after-hours stock price dropped by as much as 12%. Quarterly revenue more than doubled year-over-year to $50.6 million, slightly exceeding expectations, but it only accounts for about 2% of Coinbase's revenue for the same period, and the company remains in an overall loss-making state. Gemini's revenue mainly comes from crypto trading fees, along with credit card and staking services. Goldman Sachs analysts predict the company will struggle to achieve adjusted profitability before 2028, and its credit card business faces interest rate and credit risk exposure during economic downturns. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=51632