Robinhood posted its fourth quarter earnings today, showing a decline in crypto-based transaction revenues.
Crypto and equities trading platform Robinhood is looking to expand its crypto offerings, despite missing revenue targets for Q1 2022 and posting a decline in crypto transaction-based revenue.
Robinhood posted its fourth quarter earnings today, reporting total revenues of $363 million. Though that's an increase compared to Q4 2020, Robinhood's projections for Q1 2022 are falling short of Wall Street's expectations. The firm expects to rake in $340 million, considerably less than the projected $448.2 million.
In Q4 2021, crypto saw a mild decline in its share of the firm's transaction-based revenue. Crypto made up 18.18% of the firm's transaction-based revenue, down from 19.1% the previous quarter. Crypto transaction-based revenues increased by 304% compared to Q4 2020, clocking in at $48 million, but were considerably less than the highs of Q2 2021. The firm's crypto activity hasStill, the firm is looking to grow its crypto offerings in 2022, eyeing a Q1 release of itsand making plans to launch its own crypto platform some time this year. It plans to focus on the international expansion of those offerings.
"Robinhood has set aggressive goals to start opening its crypto platform up to customers internationally in 2022," said the firm in its report."The company believes in the immense potential of the crypto economy and sees a big opportunity in serving customers across the globe."
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Verizon adds 558,000 net new postpaid phone subscribers in Q4Verizon added 558,000 net new phone subscribers during the fourth quarter, a 30% increase on an annual basis.
Read more »
Tesla Q4 Shareholder Conference Call — Watch & Listen HereIt's time for another Tesla shareholder conference call. Well, almost time. The Tesla Q4 2021 shareholder conference call takes place today at 2:30 pm PT (5:30 pm ET / 23:30 CET). Being the 4th quarter
Read more »
Breaking: Tesla (TSLA) Q4 earnings beat but shares drop 6%Tesla (TSLA) reported earnings for Q4 after the close on Wednesday. Earnings per share came in at $2.54 versus the average estimate of $2.26. Revenue
Read more »
Tesla kept its record 2021 profits rolling right through Q4 | EngadgetWith deliveries up nearly 90 percent over 2020’s figures, Tesla achieved “the highest quarterly operating margin among all volume OEMs,” in 2021..
Read more »
Samsung posts record revenue but reveals profit decline for Q4 2021 | EngadgetSamsung's memory and mobile divisions are still its biggest businesses..
Read more »
No Changes in Tesla’s Bitcoin Holdings in Q4 2021, The Financial Statement ShowsElon Musk’s electric vehicle giant has made no changes to its bitcoin holdings during the last quarter of 2021.
Read more »