Robinhood shares fell nearly 8% in after-hours trading as the platform’s record Q4 revenues weren’t enough to satisfy analysts’ predictions.
Robinhood dropped in after-hours trading on Tuesday after the trading platform’s latest earnings missed analyst expectations, while crypto revenues declined in the fourth quarter.
Robinhood reported record net revenues of $1.28 billion in Q4, missing Wall Street expectations of $1.34 billion despite a 27% increase year-over-year.
Its crypto-based revenues fell 38% from last year to $221 million after the crypto market entered an extended drawdown in October.
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