Robinhood May Buyback Sam-Bankman Fried's $578M Stake
After the markets closed on Wednesday, Robin HOOD released its fourth-quarter financial results. On the back of the income surge, the American FinServ company reported higher fourth-quarter revenue. Robin HOOD ’s net interest revenue soared 165% to $167 million in the last quarter of 2022. Nevertheless, with retail traders being hesitant amid volatile conditions, transaction-based revenue dropped 30% in the quarter. Cryptocurrency-specific numbers noted a 24% decline to $39 million in the same period. Alongside, the net loss in Q4 2022 narrowed to 19 cents per share. For context, the same stood at an inflated 49 cents per share in 2022. In all, the company reported a revenue of $380 million in the said three-month period when compared to $363 million a year earlier. During the after-market trading hours, Robin HOOD shares registered a ~5% incline and were trading at $10.47. Source: Google Finance Also Read – FTX: Signature Bank Charged in Lawsuit, SBF Pe...