The popular trading platform Robinhood (Hood) defeated the fourth quarter income and income estimates, which could have a positive reading for the peer Coinbase (coin).
Robinhood said the fourth quarter revenue rose 115% from last year to $ 1.01 billion, defeating the estimate of Wall Street’s analysts of $ 945.8 million, according to Factset data. Transaction -based income rose 200% from last year, mainly due to a 700% increase in cryptocurrency income, the firm said in a statement.
It can be well -versed for the Coinbase crypto exchange, which reports its revenues on Thursday after near the market. Both platforms share a similar client base and get most of its income from trading fees. Wall Street analysts look forward to Post one of its best quarters In terms of trading volume since the Q4 of 2021 as a result of the crypto-friendly president’s election-friendly election, Donald Trump sent crypto prices to new hours high in November.
Factset estimates to guess Coinbase will report revenue of $ 1.8 billion, from $ 1.26 billion to the third quarter and exchange volume of $ 195.9 billion, from $ 185.3 billion.
Robinhood also reported revenues per component of $ 1.01, which led the average estimate of $ 0.42. Trading app shares over 5% in post-market trading on Wednesday, while coin stock reached about 0.3%.
Update (Feb. 12, 2025, 21:30 UTC): Adds more information about coin revenues.
Correct (Feb. 13, 14:02 UTC): Correct the year until 2021 in the third paragraph.
