Robinhood shares drop as crypto trading slowdown hits quarterly revenue
Robinhood shares fell after quarterly revenue missed targets due to a crypto trading slump. The firm still beat profit estimates as Gold subscribers grew.
Insights:
Robinhood Markets, Inc. reported fourth-quarter revenue of $1.28 billion for the three months ended December 31, missing analysts' consensus of $1.34 billion. The shortfall was primarily driven by weaker-than-expected crypto trading revenue in the US 
US, which materially reduced transaction-based revenue. Following the announcement, the company's shares fell 6.3% in after-hours trading.
US, which materially reduced transaction-based revenue. Following the announcement, the company's shares fell 6.3% in after-hours trading.
