Coinbase reported stronger-than-expected third-quarter earnings Thursday, posting $1.9 billion in revenue — up 26% from the previous quarter — as renewed crypto market momentum boosted both trading and stablecoin income. 

The San Francisco-based exchange notched $433 million in net profit, or $1.50 per share, surpassing Wall Street expectations of $1.10 per share on $1.8 billion in revenue.

Despite a sequential decline from its record $1.4 billion profit in Q2, Coinbase attributed the drop primarily to non-cash mark-to-market adjustments related to its holdings in Circle and its crypto portfolio. 

Shares of Coinbase Global (COIN) jumped more than 4% in after-hours…

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