- It was reported that Robinhood's Q4 cryptocurrency trading revenue is expected to reach $345.5 million, a 440% increase compared to the previous quarter.
- Robinhood's stock price has been on the rise since early 2024, surpassing $40 in December from $11.97 in January, and continues to show an upward trend this year.
- Robinhood's revenue growth suggests that the performance of similar businesses like the cryptocurrency exchange Coinbase is also anticipated.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
An analysis suggests that the U.S. investment platform Robinhood has significantly boosted its Q4 cryptocurrency trading revenue.
On the 11th (local time), the cryptocurrency-focused media outlet CoinDesk reported that, according to FactSet, analysts expect Robinhood's Q4 cryptocurrency trading revenue to surge by 440% compared to the previous quarter, reaching $345.5 million.
Additionally, Robinhood's total Q4 revenue is expected to be $934.9 million, which is a 41% increase from the previous quarter's $660.5 million. Earnings per share are projected to rise significantly from $0.18 in the previous quarter to $0.41.
Last year, Robinhood expanded its cryptocurrency business by acquiring the cryptocurrency exchange Bitstamp.
This expectation is also reflected in Robinhood's stock price. Robinhood's stock has been on a continuous upward trend since early 2024. In January of last year, Robinhood's stock was only $11.97, but it surpassed $40 in December.
This year, Robinhood's stock continues to rise. Robinhood closed the day at $53.34, down 5.21% from the previous day. Despite the decline, it remains significantly higher than the $42.11 recorded in January.
Meanwhile, CoinDesk noted, "Robinhood's revenue could provide insights into the performance of similar businesses like the cryptocurrency exchange Coinbase," adding that "according to FactSet, Coinbase's Q4 revenue is estimated to be $1.8 billion."
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