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Galaxy Digital returns to profit with $323 million in Q3 and launches $200 million buyback

Galaxy Digital posted a $323 million third-quarter profit and authorized a new $200 million share buyback program, driven by a rebound in trading volumes and lending.

A smartphone displaying the Galaxy Digital logo positioned in front of a laptop showing the company's website.
Image: @solidintel_x

Galaxy Digital swung back to profitability in the third quarter, generating a $323 million profit and authorizing a new $200 million share buyback program.[1][2][3]

The crypto financial services conglomerate, founded and led by billionaire Michael Novogratz, surpassed expectations for both revenue and earnings during the quarter, according to Bloomberg. The stronger-than-expected results helped lift Galaxy shares in pre-market trading.[4]

The return to quarterly profit was driven by an increase in lending activity and trading volumes, The Block reported. Crypto Briefing noted that while the earnings surge highlights the inherent volatility of asset-dependent operations, data center expansion and liquidity provided strategic stability for the firm.[1][2]

Key facts

  • Galaxy Digital recorded a $323 million profit in the third quarter.
  • Galaxy Digital authorized a new $200 million share buyback program.
  • Galaxy reported higher-than-expected third-quarter earnings and revenue, according to Bloomberg.
  • Shares of Galaxy Digital traded higher in pre-market trading after the earnings release.
  • The return to profitability was supported by an increase in trading volumes and lending, according to The Block.
  • Data center growth and liquidity provided strategic stability amid volatile asset-dependent earnings, according to Crypto Briefing.

Sources 路 4 sources

  1. CB

    Crypto BriefingArticle 路

    Galaxy Digital swings to $323M Q3 profit and adds a $200M buyback Galaxy Digital's profit surge highlights volatility in asset-dependent earnings, while data center growth and liquidity offer strategic stability. The post Galaxy Digital swings to $323M Q3 profit and adds a $200M buyback appeared first on Crypto Briefing .

    Open source
  2. TB

    The BlockArticle 路

    Galaxy Digital swings to $323 million quarterly profit, announces new $200 million share buyback Galaxy returned to profitability in the third quarter as trading volumes and lending increased, with a new $200 million buyback authorized.

    Open source
  3. SI

    Solid Intel 馃摗@solidintel_xPost on X 路

    INTEL: Galaxy Digital swings to $323 million quarterly profit and announces a new $200 million share buyback https://t.co/GdTlfu0Y9t

    Open source
  4. BL

    Bloomberg@businessPost on X 路

    Galaxy, the crypto financial services conglomerate founded and run by billionaire Michael Novogratz, reported higher-than-expected third-quarter revenue and earnings, sending its shares higher in pre-market trading https://t.co/uw22oXjlk3

    Open source