Robinhood shares slid almost 13% to $10.12 in after-hours trading Thursday after the commission-free trading platform reported a decline in crypto revenue, and overall fourth-quarter revenue and earnings that fell short of analyst expectations.$51 million in the third quarter
, which was down from a record $233 million in the second quarter. The $48 million in crypto trading revenue did represent a 304% increase over last year's fourth quarter, however. Meanwhile, revenues from equity trading in Q4 fell 35% year-over-year to $52 million. The company said it has “set aggressive goals” to start opening up its crypto platform to international customers this year, which it sees as a"big opportunity."
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