Hey Nutters 🥜
Markets are serving a strange combo platter today: crypto blues, record-breaking user growth, prediction-market mania, and retail traders refusing to log off.
Let’s dive in. 💰
📉 Robinhood’s Record Quarter… Overshadowed by Crypto’s Cold Shower
Revenue hits highs — but Bitcoin drags the vibe down
Robinhood ($HOOD) just posted its strongest quarter ever — and the market still found something to complain about.
📊 Q4 2025 by the numbers:
Revenue: $1.28B (record high)
Transaction revenue: $776M
Equities: +54%
Options: +41%
Crypto: -38% (thanks, Bitcoin crash)
Net income: $605M (down from $916M last year)
The culprit? A $56M tax provision vs. last year’s $358M tax benefit — plus crypto’s October collapse cooling trading activity.
But zoom out 👀
Robinhood is evolving into something bigger.
🚀 SuperApp ambitions:
Gold subscribers: +58% YoY
Margin balances: +113%
Retirement assets: $26.5B (more than doubled)
2026 opex guidance: $2.6B–$2.725B
CEO Vlad Tenev isn’t blinking. He wants Robinhood to become the “Financial SuperApp” — think investing + banking + crypto + global expansion under one hood.
🟢 Big Picture: Crypto cycles may whipsaw earnings, but Robinhood is trying to build a moat that survives the volatility.
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🎧 Spotify Adds 38 Million Listeners — Even After Raising Prices
Streaming giant turns ambition into operating leverage
While traders panic-refresh charts, Spotify ($SPOT) just quietly delivered its biggest user growth quarter ever.
📈 Q4 Highlights:
751M monthly active users
+38M added in one quarter
Premium subs: +10% YoY
Revenue growth: +13% (constant currency)
Operating income: +47%
Full-year net income: +86%
Gross margins: 33.1%
Not bad for a company that raised US prices to $12.99 (its third hike in four years).
🎵 And the payouts?
Spotify paid out $11B to the music industry in 2025, the largest annual payout ever — with indie artists capturing roughly half.
🔮 What’s next?
Music videos now live in 111 markets
“Page Match” connects physical books to audiobooks
AI tools may position Spotify as the industry’s unofficial R&D lab
Stock’s down ~30% this year — but execution is humming.
🟢 Bottom Line: Spotify is proving you can raise prices, grow users, and expand margins — all at once.
🎰 Other News – The Rapid-Fire Rundown
📱 TSMC ($TSM) posted record January revenue of NT$401.3B (+37% YoY), powered by AI chip demand.
💊 DuPont ($DD) beat Q4 estimates; upbeat guidance lifted shares 2%.
🎮 Take-Two ($TTWO) upgraded to strong buy with 39% upside potential post-AI sell-off fears.
🎯 Unity ($U) upgraded to outperform; analysts see revenue acceleration ahead.
🥩 Texas Roadhouse ($TXRH) downgraded amid beef inflation concerns through 2027.
📱 Qualcomm ($QCOM) downgraded over handset volume fears tied to memory shortages.
📊 61 S&P 500 stocks hit new 52-week highs, including Verizon, Hilton (all-time high), and Caterpillar (highest since 1929).
🏦 Fed officials hint rates may stay steady longer — “neutral” policy may already be here.
🧑💻 Freelancer marketplace shares plunged 19% after active clients fell 6% YoY.
🍔 McDonald’s ($MCD) reports Q4 earnings soon — a key pulse check on consumer health.
🛍️ Shopify ($SHOP) reports with $0.51 EPS estimate — guidance will shape e-commerce sentiment.
🏈 Prediction market Kalshi processed $1B+ in Super Bowl wagers, up 2,700% YoY. Even Bad Bunny’s opening song drew $100M in bets. Chaos… but profitable chaos.
🎤 Final Bite
Crypto’s cooling. Retail’s still trading. Spotify’s still scaling. And Robinhood is trying to build the everything-app while markets debate whether the party’s over.
If there’s one theme this week:
Volatility isn’t killing engagement — it’s monetizing it.
Thanks for reading Cash Nut 🥜
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