Robinhood’s Q4 Surge Points to Strong Q4 for Coinbase: Crypto Trading Revenue Expected to Jump
Robinhood (HOOD) is poised to report a massive increase in its crypto trading revenue for the fourth quarter of 2024, with analysts predicting a 440% rise to $345.5 million, driven by heightened user activity in the wake of the U.S. elections. The surge in trading has helped the platform achieve overall projected revenue of $934.9 million for the quarter, a solid increase from the $660.5 million reported previously. Earnings-per-share (EPS) are expected to rise to $0.41 from $0.18.
The surge in crypto activity has fueled a 350% increase in Robinhood’s stock price over the past year, and the company’s shares have climbed 37% since the start of 2025. The boost in trading volumes, totaling $69 billion by December 27, reflects an extraordinary quarter for Robinhood, and analysts are using this data to forecast strong results for Coinbase (COIN) as well.
Barclays analyst Benjamin Buddish forecasts that Coinbase’s retail volume will surpass $108 billion, given the correlation between Robinhood’s crypto volumes and Coinbase’s. As Coinbase prepares to report its Q4 results on Thursday, analysts expect it to post a record $1.8 billion in revenue, with EPS estimated to reach $1.99, up significantly from $0.41 last quarter.
Robinhood’s strong performance will likely affect Coinbase’s share price, as investors anticipate similar positive results from the exchange. Coinbase shares have risen 90% over the past year, trading at $269.88, while Robinhood’s stock has surged by 370%, now priced at $54.33.
