After a blockbuster IPO last month, crypto-exchange Bullish turned the corner, swinging to a profit in its first earnings report since going public.

The firm reported a profit of $93 million, or 93 cents per share, for the June quarter, compared to a loss of $116.4 million, or $1.03 per share, during the second quarter last year.

That earnings report was better than Wall Street’s bets.

The CEO, Tom Farley, said,”We are pleased with our results for the quarter – we saw exciting liquidity services growth, executed on a successful Consensus conference, and prepared for what would be a successful IPO. We’re excited that the work we did in the second quarter is already directly contributing to strong business momentum in the third…