2 years ago
Robinhood (HOOD) shares slid astir 13% to $10.12 successful after-hours trading Thursday aft the commission-free trading level reported a diminution successful crypto revenues, and wide fourth-quarter revenues and net that fell abbreviated of expert expectations.
Transaction-based cryptocurrency revenues totaled $48 cardinal compared to $51 cardinal successful the 3rd quarter, which was down from a grounds $233 cardinal successful the 2nd quarter.
The institution said it has “set assertive goals” to commencement opening up its crypto level to planetary customers this year.
Total gross for the 4th fourth totaled $363 million, beneath the $376.3 cardinal expected by analysts, according to FactSet data. The adjusted nett nonaccomplishment was $0.49 per share, compared to the $0.36 nonaccomplishment per stock that analysts forecast.
Robinhood went nationalist past July astatine an IPO terms of $38 per share. The banal deed a caller all-time debased connected Monday amid an wide tech and crypto selloff.
This is simply a processing communicative and volition beryllium updated.
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