Robinhood’s Crypto Revenues Drop in Q4

The company's crypto revenue forecasts for the fourth quarter failed and the company's shares fell 10%
 Robinhood’s Crypto Revenues Drop in Q4
READING NOW Robinhood’s Crypto Revenues Drop in Q4

The company’s crypto revenue forecasts for the fourth quarter failed, and the company’s shares fell 10%.

You can follow us on our Twitter and Telegram channel to be instantly informed about the last minute developments.

Robinhood announced that it generated $48 million in sales revenue from cryptocurrencies for the fourth quarter of 2021. In the previous quarter, revenue of 51 million dollars was generated.

2021 has been a pretty successful year for Robinhood. The company has achieved significant financial income, especially under the conditions of the pandemic. However, a decrease was observed in the revenue from digital assets.

According to data from Robinhood, crypto revenues in the fourth quarter fell by 6% compared to the third quarter. Shares of the company tumbled 10% after the drop in revenue.

Robinhood’s fourth-quarter crypto revenues rose sharply compared to the previous year’s fourth quarter. According to this data, the company experienced a revenue increase of 304 percent compared to the previous year. While the company made a profit of $ 27 million in the whole of 2020, it made a profit of $ 419 million in 2021.

The CEO of the company, Vlad Tenev, said that the company wants to offer more crypto options:

“We continue to work behind the scenes to provide our crypto customers with the functionality they want. We know customers want a wallet”

Comments
Leave a Comment

Details
129 read
okunma58606
0 comments