Summary
TLDR: Robinhood reported increased earnings in the fourth quarter, boosted by cryptocurrencies revenue. Monthly active users were down, but assets under custody increased. The company plans to expand globally and improve its crypto offering. Revenue beat expectations and the CEO is optimistic about growth in 2024.
Key Points
1. Robinhood reported fourth-quarter earnings, with transaction-based revenues boosted by cryptocurrencies revenue reaching $43 million.
2. Monthly active users were down 4% to 10.9 million, but assets under custody increased to $102.6 billion, a 65% year-over-year increase.
3. Robinhood plans to explore opportunities for further growth outside the US, following its expansion into the UK and EU, with plans to expand its crypto trading offering in the EU.