Robinhood's Q4 net revenue exceeded estimates by 24% at $471 million, primarily driven by deposit growth, with crypto revenue at $43 million.

Robinhood Markets Inc. shares increased due to its fourth-quarter net revenue surpassing analyst estimates by 24% at $471 million, up from $383 million in 2021 Q4. This growth in revenue was driven by deposit growth outpacing that of the previous year. The company's crypto revenue for the quarter was $43 million, above the estimated $37 million. Chief Executive Officer Vlad Tenev stated that 2024 will be a strong year for Robinhood, with interest rates becoming a tailwind for business growth, and the company expects total operating expenses to be between $1.85 billion and $1.95 billion for this year.

February 13, 2024
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