Robinhood Q4 Revenue Misses Estimates, Drops Nearly 8% After Hours, Crypto Revenue Down 38% YoY

On February 11, Robinhood released its Q4 2025 earnings report, posting a record quarterly net revenue of $1.28 billion—up 27% year-over-year (YoY)—but missing Wall Street’s consensus estimate of $1.34 billion. As a result, HOOD shares fell as much as 7.66% in after-hours trading to $79.04, marking a 42% drop from their October 3 high of $148.67. **Segment breakdown**: - Crypto revenue declined 38% YoY to $221 million, weighed by a sustained crypto market pullback since October. - Quarterly net profit totaled $605 million (down 34% YoY), while earnings per share (EPS) hit $0.66—slightly topping the Street’s $0.63 forecast. **Trading volumes**: - Crypto transaction volume (including subsidiary Bitstamp) rose 3% quarter-over-quarter (QoQ) to $82.4 billion. - Stock trading volume climbed 10% QoQ to $710 billion. - Options contract volume increased 8% QoQ to 659 million. **Key highlight**: “Other” trading revenue—fueled by forecast markets and futures—surged 375% YoY to $147 million, marking the first time it exceeded stock trading revenue. **Full-year 2025 results**: Net revenue jumped 52% YoY to $4.5 billion, with full-year net income growing 35% to $1.9 billion. CEO Vlad Tenev emphasized the company remains focused on building a “financial super app.”