Odaily News Robinhood said its fourth-quarter revenue grew 115% from the previous year to $1.01 billion, beating Wall Street analysts' expectations of $945.8 million, according to FactSet data. The company said in a statement that its transaction-based revenue grew 200% from the previous year, mainly due to a 700% increase in cryptocurrency revenue. Robinhood also reported earnings per share of $1.01, beating the average estimate of $0.42.
Analysts point out that this could be a good sign for cryptocurrency exchange Coinbase, which will report its earnings after the close on Thursday. The two platforms have similar customer bases and most of their revenue comes from trading fees. Wall Street analysts expect Coinbase stock to have its best quarter in terms of trading volume since the fourth quarter of 2024, as cryptocurrency prices hit an all-time high in November last year due to the election of Trump, who is friendly to cryptocurrency, as president.
FactSet estimates show that Coinbase's revenue in Q4 last year will reach $1.8 billion, up from $1.26 billion in Q3, and its trading volume will reach $195.9 billion, up from $185.3 billion. (CoinDesk)