Robinhood’s Q4 revenue misses by $60M despite EPS beat; crypto sales down 38%
Robinhood reported Q4 revenue of $1.28B, missing estimates by $60M, but delivered EPS of $0.66, beating forecasts by $0.04. Transaction revenues climbed 15% to $776M driven by a 41% rise in options and a 54% jump in equities, while crypto revenue slid 38% to $221M.
1. Q4 Financial Results
Robinhood’s fourth-quarter revenue totaled $1.28 billion, falling $60 million short of the $1.34 billion consensus, while EPS of $0.66 exceeded the $0.62 estimate; net income was $605 million versus $916 million prior-year, and operating expenses rose 38% to $633 million.
2. Transaction and Crypto Revenues
Transaction-based revenue increased 15% year-over-year to $776 million, led by $314 million in options revenue (up 41%) and $94 million in equities revenue (up 54%), while cryptocurrency trading revenue declined 38% to $221 million.
3. Balance Sheet and User Metrics
Total platform assets expanded 68% year-over-year to $324 billion, net deposits reached $15.9 billion, and Robinhood Gold subscriptions grew 58% to 4.2 million, supporting net interest income of $411 million and $50 million in Gold fees.
4. Stock Performance and Outlook
Shares tumbled over 10% following the revenue miss, trading well below key moving averages with a neutral RSI and bearish MACD, reflecting mixed momentum despite a 60% gain over the past 12 months.