Robinhood Q4 Earnings Miss as Crypto Revenues Decline; Launches Robinhood Chain Testnet

Robinhood reported Q4 crypto revenue fell 38% year-over-year to $221M as lower digital-asset prices reduced trading activity despite expanded token listings and new crypto features. Overall transaction-based revenue rose 15% to $776M, EPS of $0.66 beat estimates, but total revenue came in at $1.28B versus $1.33B expected. Shares fell about 7.7% after hours; competitor Coinbase is due to report earnings amid similar market headwinds.
AI Analysis
Crypto revenue declined 38% to $221M and total revenue missed estimates ($1.28B vs $1.33B), and shares fell ~7.7% — concrete negative earnings and market reaction that could weigh on crypto-trading sentiment; EPS beat and transaction revenue up 15% are positive but smaller than the headline misses.