Robinhood (HOOD) reported Q1 revenue of $340 million, down 35% compared to 2021. The analyst’s consensus estimate was for $448.2 million in revenue for the first quarter.
Monthly active users fell to 17.3 million for the quarter from 18.9 million in the third quarter. This active users number was also below the expectations of 19.8 million.
Net cumulative funded accounts totalled 22.7 million at the end of the Q4, in line with Wall Street estimates. This came higher from 22.4 million accounts in the Q3.
For the Q4, HOOD reported 0.49 cents per diluted share, higher than the 0.45 loss estimate. However, Robinhood posted $363 million in revenue in the final three months of 2021, beating the analyst’s estimates of $362.1 million.