The shares of online broker Robinhood fell 15% in the January 27 post-trade session. The reason was the low compared to market expectations ($448.2 million) forecast for revenue in the first quarter ($340 million), as well as a decrease in the number of active users – from 18.9 million to 17.3 million, CNBC has reported.
According to the latest metric, the online broker also unpleasantly surprised the market, which expected an increase in the audience to 19.8 million. The number of funded accounts during October-December increased from 22.4 million to 22.7 million.
The company’s total fourth-quarter net income of $363 million slightly beat analysts’ consensus estimate of $362.1 million. Loss per share was $0.49 compared to market expectations of $0.45.
The share of crypto trading in the total income from transactions in October-December decreased to 18% after 19.1% and 51.7% in the third and second quarters, respectively. In absolute terms, the indicator decreased – from $51 million to $48 million. In the second quarter, which was successful for the company, it amounted to $233 million.