Robinhood recently released their fourth quarter results for the fiscal year 2022, showing a mixed bag of profits and losses. Their total revenue (EBITDA) was up by 74%, while net interest revenue increased by 30%. However, the company lost $166 million over the quarter, resulting in a $0.19 drop in earnings per share. Crypto-related revenues were down 24%, likely due to the recent launch of their crypto wallet. CEO Vlad Tenev remains confident in the company’s product roadmap and has been given the green light to buy back shares from Emergent Fidelity Technologies. Despite the mediocre results, Robinhood leadership is optimistic about their future prospects and looks forward to a more profitable 2023.
Robinhood’s Mixed Bag
