Robinhood Q4 Earnings Highlights: Revenue Beat, EPS Beat, Strong Start To Q1 And More

Published

1 year ago

February 22, 2024

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Financial services company Robinhood Markets HOOD reported fourth-quarter financial results after the market close Tuesday.

Here are the key highlights.

What Happened: Robinhood reported fourth-quarter revenue of $471 million, which was up 24% year-over-year. The revenue beat a Street consensus estimate of $456.8 million, according to data from Benzinga Pro.

Robinhood reported earnings per share of 3 cents, which beat a Street consensus estimate of a loss of 1 cent per share.

The company said the revenue increase came from increased transaction-based revenues and higher net interest. Net interest revenue was up 41% year-over-year to $236 million. Transaction revenue was up 8% year-over-year to $200 million.

Robinhood said cryptocurrency revenue was $43 million, up 10% year-over-year in the fourth quarter. Crypto revenue was higher than equities revenue of $25 million, up 19% year-over-year. Options revenue of $121 million was down 2% year-over-year.

The company ended the fourth quarter with 23.4 million funded customers, a year-over-year increase of 420,000.

Assets under custody stood at $102.6 billion at the end of the fourth quarter, which was up 65% year-over-year. Net deposits were $4.6 billion, up 21% from the third quarter. The company ended the fourth quarter with 1.42 million gold subscribers, up 25% year-over-year. Monthly active users totaled 10.9 million in the fourth quarter, down 4% year-over-year.

The average revenue per user was $81 in the fourth quarter, up 23% year-over-year.

Robinhoods full fiscal 2023 revenue totaled $1.87 billion for Robinhood, a 37% year-over-year increase. The company posted a loss of 61 cents per share, which was an improvement over a loss of $1.17 per share in the prior year.

"2023 was a strong year as our product velocity continued to accelerate, our trading market share increased, and we started to expand globally," Robinhood CEO Vlad Tenev said.

Related Link: Trading Strategies For Robinhood Stock Before And After Q4 Earnings

What's Next: The company will provide more financial guidance and commentary on its fourth-quarter earnings call.

The company said it expects adjusted operating expenses and SBC to be in a range of $1.85 billion to $1.95 billion for fiscal 2024.Loading… Loading…

The company's growth areas include new products, features and international expansion.

"We're off to an even better start in 2024, as we've already brought in more Funded Customers and Net Deposits through the first half of Q1 than we did in all of Q4 2023," Tenev said.

Chief Financial Officer Jason Warnick highlighted Robinhoods full-year revenue and higher margins in fiscal 2023 and goals for 2024.

"In 2024, we aim to continue delivering profitable growth as we work to maximize earnings per share over time to drive long-term shareholder value, Warnick said.

HOOD Price Action: Robinhood shares are up 116% to $13.22 in after-hours trading Tuesday versus a 52-week trading range of $7.91 to $13.51.

Read Next: Robinhood Q3 Earnings: EPS Beat, Revenue Up 29%, MAUs Fall 16% And More

Photo courtesy of Robinhood.Loading… Loading…

Politics

Crypto rules for mortgages must reflect self-custody reality

Published

2 hours ago

July 19, 2025

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Crypto rules for mortgages must reflect self-custody reality

The FHFA directive on crypto in mortgage risk assessments risks excluding self-custodied assets, potentially increasing counterparty risk for homebuyers.

Technology

Nvidia CEO Jensen Huang sells an additional $12.94 million worth of shares

Published

3 hours ago

July 19, 2025

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Nvidia CEO Jensen Huang sells an additional .94 million worth of shares

Jensen Huang, co-founder and CEO of Nvidia Corp., speaks during a news conference in Taipei on May 21, 2025.

I-hwa Cheng | Afp | Getty Images

Nvidia CEO Jensen Huang sold 75,000 shares on Friday, valued at about $12.94 million, according to a filing with the U.S. Securities and Exchange Commission.

Friday’s sale is part of a plan adopted in March for Huang to sell up to 6 million shares of the leading artificial intelligence company. Earlier this week, Huang sold 225,000 shares of the chipmaker, totaling about $37 million, according to a separate SEC filing. The CEO began trading stock per the plan last month.

Surging demand for AI and the graphics processing units that power large language models has significantly boosted Huang’s net worth and pushed Nvidia’s market capitalization beyond $4 trillion, making it the world’s most valuable company.

Nvidia announced this week that it expects to resume sales of its H20 chips to China soon, following signals from the Trump administration that it would approve export licenses. Earlier this year, U.S. officials had stated that Nvidia would require special permission to ship the chips, which are specifically designed for the Chinese market.

“The U.S. government has assured NVIDIA that licenses will be granted, and NVIDIA hopes to start deliveries soon,” the company said in a statement on Tuesday. Huang said during a news conference on Wednesday in Beijing that he wants to sell chips more advanced than the H20 to China at some point.

Science

Hubble Uncovers Multi-Age Stars in Ancient Cluster, Reshaping Galaxy Origins

Published

4 hours ago

July 19, 2025

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Hubble Uncovers Multi-Age Stars in Ancient Cluster, Reshaping Galaxy Origins

Astronomers call ancient star clusters like NGC 1786 “time capsules” for their galaxy, preserving some of its oldest stars. A new image from NASA’s Hubble Space Telescope offers an unprecedented close-up of this dense cluster 160,000 light-years away in the Large Magellanic Cloud. Hubble’s data show that NGC 1786 contains stars of different ages – a surprising find, since such clusters were once thought to hold a single stellar generation. This multi-age discovery is reshaping our view of how galaxies built their first stars, and suggests more complex early history.

Mixed-Age Stars in a Galactic Time Capsule

According to the official source, this Hubble image shows the globular cluster NGC 1786, a ball of densely packed stars in the Large Magellanic Cloud about 160,000 light-years from Earth. Astronomers captured this picture as part of a program comparing ancient clusters in nearby dwarf galaxies (like the LMC) with clusters in our own Milky Way. The surprising discovery is that NGC 1786 hosts stars of multiple ages. In fact, astronomers expected all stars in such a cluster to form at the same time, so finding multiple stellar generations was unexpected. This suggests even ancient clusters in other galaxies have more complex, layered histories than scientists expected.

Clues to Galaxy Evolution

For astronomers, the discovery provides clues to galaxy formation. Each globular cluster is like a snapshot of its galaxy’s past, so finding multiple stellar generations implies the Large Magellanic Cloud built its stars in stages rather than all at once. By comparing NGC 1786 to clusters in the Milky Way, researchers can retrace how both galaxies assembled their oldest stars. As one NASA scientist notes, this study “can tell us more not only about how the LMC was originally formed, but the Milky Way Galaxy, too”. Overall, the discovery supports a picture of gradual galactic growth through multiple waves of star formation and mergers, rather than a single early burst.