Robinhood Q4 Earnings to Reflect Crypto Trading Boom, Set to Impact Coinbase Results
In the final quarter of 2024, Robinhood (HOOD) is expected to see a massive surge in crypto trading revenue, spurred by a spike in user activity following the election of Donald Trump in November. Analysts predict that the platform’s crypto revenue will soar 440% from the previous quarter, reaching $345.5 million, up from $63.9 million, according to data from FactSet.
The increase in crypto activity is part of a broader trend, with Robinhood’s overall revenue for Q4 forecast to hit $934.9 million, a rise from $660.5 million in Q3. Earnings-per-share are also expected to grow to $0.41 from $0.18.
Robinhood’s success has significantly impacted the broader market, with the company’s shares climbing 350% in the past year. They’ve continued to perform strongly in 2025, rising 37% in the first six weeks of the year, as retail traders flock back to the platform in anticipation of improved market conditions for both stocks and cryptocurrencies.
As the data from Robinhood’s crypto activity is regularly released, analysts have used these insights to estimate Coinbase’s (COIN) trading volume. Benjamin Buddish, an analyst at Barclays, estimates that Robinhood saw an impressive $69 billion in crypto trading volume by Dec. 27, a five-fold jump from the previous quarter and a six-fold increase year-over-year. This sharp increase in volume leads Buddish to forecast that Coinbase’s retail volume will exceed $108 billion.
Coinbase, which will announce its Q4 earnings on Thursday, is expected to report strong figures, with estimates pointing to $1.8 billion in revenue and earnings-per-share of $1.99, compared to $0.41 in the prior quarter.
As Robinhood’s earnings are released, investors will likely keep an eye on Coinbase, anticipating similarly positive results from the crypto exchange. Coinbase’s stock has risen 90% over the last year, now trading at $269.88, while Robinhood has experienced an even more impressive gain of 370%, with shares currently at $54.33.
