Coinbase share surge 13% in premarket trade after posting first quarterly profit in two years

Shares of cryptocurrency exchange Coinbase soared 13% Friday in U.S. premarket trading after the company reported its first profit in two years.

Coinbase, the largest U.S. venue for buying and selling cryptocurrencies, said that net income totalled $273 million in the fourth quarter.

This is a breaking news story, and it is being updated.