From Nasdaq:

Robinhood Markets (NASDAQ:HOOD) reported fourth-quarter revenue of $471 million, which was up 24% year-over-year. The earnings per share of 3 cents beat a Street consensus estimate of a loss of 1 cent per share. The company ended the fourth quarter with 23.4 million funded customers, a year-over-year increase of 420,000, and assets under custody stood at $102.6 billion.

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. They also reported that cryptocurrency revenue was $43 million, up 10% year-over-year in the fourth quarter. 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.

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

The company shares are up 116% to $13.22 in after-hours trading Tuesday versus a 52-week trading range of $7.91 to $13.51. Robinhood is anticipating adjusted operating expenses and SBC to be in a range of $1.85 billion to $1.95 billion for fiscal 2024. They also aim to continue delivering profitable growth to drive long-term shareholder value.



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