1/27, 10:03 PM (Source: TeleTrader)
more TeleTrader news

Robinhood: Q4 revenue at $363M, up 14% YoY

Robinhood Markets Inc. revealed on Thursday that its total net revenues in the fourth quarter of 2021 stood at $363 million, a figure 14% higher compared to the corresponding timeframe in 2020. Net loss stood at $423 million, or $0.49 per diluted share, down from net income of $13 million, or $0.02 per diluted share from a year ago.

Total net revenues soared 89% from full fiscal 2020 to $1.82 billion in 2021. Net loss came in at $3.69 billion in 2021, compared to net income of $7 million recorded in the year before. Diluted loss per share was $7.49 in 2021, falling from diluted income per share of $0.01 seen in 2020.

"We had a momentous year, nearly doubling the number of customers on the platform and making critical investments in our team and infrastructure to support growth. This year, we'll expand our ecosystem of products," CEO and co-Founder Vlad Tenev commented.

The company's stock dropped 10.85% in extended trade following the release of the report.

Baha Breaking News (BBN) / MS