Robinhood’s crypto revenue declined 24% to $39 million in the fourth quarter, according to its latest earnings report. $HOOD By NelWang
that a holding company for former FTX execs Sam Bankman-Fried and Gary Wang bought in May 2022, and canceled nearly $500 million of its share-based compensation.
The company noted that its Robinhood crypto wallet was rolled out to more than one million waitlisted users in 2022 after aOverall for the fourth quarter, Robinhood posted an adjusted loss of 19 cents a share, ahead of the consensus analyst estimate of a loss of 15 cents a share, according to FactSet, on revenue of $380 million, below the analyst estimate of $396 million.
Shares of Robinhood were up about 3% to $10.80 in after-hours trading on Wednesday. Shares are up about 30% year to date but down 21% over the last year.
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