Robinhood's Q4 trading revenue up 8% from prior year driven by cryptocurrency trading
Robinhood said fourth-quarter transaction-based revenue rose 8 per cent from the prior year, driven primarily by cryptocurrency trading.Coinbase is set to report its earnings on Thursday, and all else being equal, its trading volume is likely to show similar results.COIN shares were up slightly in after-hours trading on Tuesday.Robinhood also expects to win more of this year's cryptocurrency trading market share and expand internationally. It recently began allowing European Union customers to trade cryptocurrencies on its platform. The trading platform reported overall revenue of $471 million in the fourth quarter, beating analysts' average estimate of $454.7 million, according to FactSet data. Meanwhile, earnings per share came in at $0.03, beating expectations for a loss of $0.01 per share.
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