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Bullish Misses Q1 Targets, Buys Equiniti for $4.2B
Description
Bullish, the crypto exchange, missed Q1 revenue targets with $92.8M, below the expected $94.9M. Earnings per share were also lower than forecasts. The company posted a net loss of $604.9M, wider than the year-ago loss. Shares dropped 8% pre-market due to lower bitcoin prices. Bullish is moving forward with a $4.2B deal to buy Equiniti, a transfer agent firm, to enhance tokenized securities and regulated services. Execs will discuss the crypto dip on an investor call at 8:30 AM Eastern time.
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