Robinhood's Q4 Revenues Missed Expectations

Robinhood's Fourth Quarter Results

Robinhood reported earnings per share of $0.66 for the fourth quarter of 2023, surpassing the expectations of $0.63. However, total revenue was recorded at $1.28 billion, falling short of the anticipated $1.33 billion.

Decline in the Cryptocurrency Market

One of the major factors affecting the fourth quarter results was the weakness in the cryptocurrency market. Crypto revenues declined by 38% year-over-year, dropping to $221 million. This development is expected to impact the results of competitors like Coinbase. Following the release of the results, Robinhood's shares fell by approximately 7% in after-hours trading.