Robinhood crypto income decreased by 25 % in the last quarter
Robinhood crypto income decreased by 25 % in the last quarter
Robinhood recently announced its results for the fourth quarter of the 2022 financial year and presented the profits and losses of its popular trading platform for private investors.
The numbers were positive overall, but mixed - with traditional asset classes that exceeded crypto. However, it is worth noting that this could change soon. Finally, the Robinhood Wallet crypto wallet was reserved until recently and will soon be made accessible to the general public.
higher income, lower share prices
Robinhoods Detailed winning report for the fourth quarter was published with the investor committee during the quarterly meeting of the company. Overall, the company's total sales (EBITDA) rose to $ 82 million, a sequential improvement of 74 %.
The net interest income also increased by 30 %, which attributes Robinhood to higher short -term interest and a significant increase in the interest on the interest.
The bottom line is that it doesn't look too rosy. Overall, Robinhood lost $ 166 million in the last quarter, which led to a decline in profit of $ 0.19 per share. However, there is a silver stripe on the horizon - Q3 recorded a decline in the profit per share of $ 0.20, which means that Robinhood's shares cut better in the last quarter.Crypto Revenue tanking, Robinhood buys shares from SBF back
While Robinhood is preparing to introduce his cryptocurrency wallets for all users, crypto-related income has suffered one blow. With crypto-related products, only about $ 39 million was generated sales, a decrease of 24 % since the last quarter.
Vlad Tenev-the CEO of Robinhood-remains positive about the introduction of new products, including the crypto wallet.
"If I look back on the past year, I am incredibly proud of the enormous performance of our team at our product roadmap for 2022. We are now seeing a number of products that we have launched on the market, which is confident that they can develop over time."
TENEV also announced that the Robinhood Green Light investor committee has given as many shares to buy as many shares back from Emergent Fidelity Technologies, the company that considers Robinhood shares worth around $ 55 million for Sam Bankman-Fried. The shares in question are currently being pursued by confiscation by the DOJ, a step that is contested by SBF, the demanded to keep them to finance his right -wing defense.
Despite the mediocre results in the past quarter - and in the entire financial year 2022 - the management of Robinhood remains confident in your business model and is looking forward to a more profitable year 2023.
.
Kommentare (0)