The newly public brokerage anticipates first-quarter revenue of less than $340 million, down 35% compared to 2021.
Monthly active users fell to 17.3 million last quarter from 18.9 million in the third quarter. This number was also below estimates of 19.8 million, according to FactSet.
For the fourth quarter, Robinhood reported a net loss of $423 million, or a 49 cent loss per diluted share, wider than the 45 cent loss estimate collected by Refinitiv. However, Robinhood posted $363 million in revenue in the final three months of 2021, slightly above analysts expectations of $362.1 million.
. Shares are down more than 34% in January, bringing its market capitalization to less than $10 billion. Revenue from crypto has been declining since the second quarter of 2021. After a banner $233 million in the second quarter of 2021, crypto-based revenue was only $51 million in the third quarter. And Thursday's report shows its continuing to decline."Robinhood has set aggressive goals to start opening its crypto platform up to customers internationally in 2022.
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