Galaxy Digital Inc., the crypto financial services firm led by billionaire Michael Novogratz, reported stronger-than-expected results for the third quarter of 2026. The company's revenue reached $8.06 billion, surpassing analyst estimates of $7.8 billion. Despite the positive revenue performance, net income fell to $323 million, or 66 cents per share, marking a 36% decline from the same period last year.
Shares of Galaxy Digital rose about 8% in pre-market trading following the earnings report. The company's revenue, while higher than projections, was still down from the year-ago period, reflecting the volatile nature of the crypto market.
The earnings report highlights Galaxy Digital's ability to navigate market challenges, though the decline in net income suggests ongoing pressures in the sector. Investors appear optimistic about the company's performance, as evidenced by the pre-market share price increase.