Core Insights - Robinhood Markets Inc. reported record revenue in Q4, but performance fell short of Wall Street expectations due to a significant decline in cryptocurrency trading revenue, leading to a notable drop in stock price after hours [1][2] Financial Performance - The company achieved revenue of $1.28 billion for the quarter ending December 31, a record high but below analyst expectations of $1.34 billion [2] - Net profit dropped 34% to $605 million, or $0.66 per share, slightly above the Wall Street estimate of $0.63 per share [2] - Trading-related revenue increased by 15% to $776 million, driven primarily by a 54% increase in stock revenue and a 41% increase in options revenue [2] - Cryptocurrency trading revenue was $221 million, down 38% year-over-year and below the expected $248 million, reflecting a prolonged downturn in the cryptocurrency market since Bitcoin's significant drop in October [2] Business Highlights - Robinhood's prediction market business emerged as a surprising growth area, allowing users to bet on outcomes of various events, with over 12 billion event contracts traded last year [3] - The CEO stated that the company is at the beginning of a "super cycle" in prediction markets and announced a partnership with Susquehanna International Group to acquire a majority stake in derivatives exchange LedgerX [3] - Plans to expand into "multiple new markets" later this year were also mentioned, indicating a strategic focus on growth in this area [3]

Business Expansion - Webull is starting to offer corporate-bond trading for US customers [1]