Robinhood soars on Wall Street

(Boursier.com) — Robinhood , the American online broker, jumped 11% after trading on Wall Street last night. The group posted revenues of $471 million for the fourth fiscal quarter, an increase of 24%, well above consensus. Net deposits were $4.6 billion, with management reporting an increase in deposits exceeding last year. Crypto revenues were $43 million, a performance above expectations. Adjusted earnings per share were 3 cents, compared to -1 cent consensus and -19 cents a year earlier. The Californian group expects annual operating expenses ranging from $1.85 billion to $1.95 billion, a lower level than expected.