Robinhood Posts Record Q4 Revenue Despite Crypto Slowdown

Robinhood Markets Inc. closed 2025 with a mixed financial performance, reporting $1.28 billion in fourth-quarter revenue—a 27% year-over-year increase but below Wall Street's $1.34 billion expectation. The brokerage's adjusted earnings per share of $0.66 surpassed estimates, yet shares dipped 1.29% in after-hours trading as markets reacted to slowing crypto revenue growth.

Crypto trading revenue plummeted 38% to $221 million, reflecting subdued digital asset volumes compared to 2024's bullish conditions. Equities and options drove a 15% rise in transaction revenue to $776 million, while operating expenses surged 38% to $633 million due to compliance costs and stock-based compensation.

The company achieved record annual revenue of $4.5 billion, up 52%, demonstrating resilience despite crypto headwinds. 'When the crypto tide recedes, it exposes who's been swimming naked,' observed one analyst, noting Robinhood's reliance on volatile digital asset trading.