Robinhood Dips 9% As Crypto Activity Falls Nearly 50% in Q1
Cointelegraph
Robinhood shares fell 9.4% after Q1 earnings missed analyst estimates, driven by a nearly 50% decline in crypto revenue and trading volume.Summary
Robinhood shares dropped 9.4% in after-hours trading following a Q1 earnings report that missed analyst expectations for both revenue and earnings per share. The company reported a 47% year-on-year decline in crypto transaction revenue and a 48% drop in trading volume. CEO Vladimir Tenev attributed these results to market volatility while emphasizing the firm's long-term focus on building crypto infrastructure and tokenization. Despite the crypto slump, Robinhood saw strong growth in its 'other' trading category, driven by the rapid adoption of Robinhood Predictions, which helped mitigate overall financial losses.
(Source：Cointelegraph)