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Robinhood shares fall after earnings as crypto revenue slides 38% in Q4

Robinhood reported Q4 2025 revenue of $1.28 billion (vs. $1.35 billion estimated), up 27% YoY. Crypto revenue totaled $221 million, down 38% YoY. Adjusted EBITDA reached $761 million (vs. $833 million estimated), up 24% YoY, while transaction-based revenue came in at $776