Robinhood Q4 earnings miss as crypto revenues decline
Robinhood shares fell nearly 8% in after-hours trading as the platform’s record Q4 revenues weren’t enough to satisfy analysts’ predictions.
Robinhood dropped in after-hours trading on Tuesday after the trading platform’s latest earnings missed analyst expectations while crypto revenues tanked in the fourth quarter.
Robinhood reported record net revenues of $1.28 billion in Q4, missing Wall Street expectations of $1.34 billion despite increasing 27% year-on-year.
Its crypto-based revenues fell 38% from last year to $221 million after the crypto market entered an extended period of drawdowns in October.