Robinhood dips as Q1 earnings miss and crypto revenue, volume fall nearly 50%
Robinhood’s Q1 earnings per share and revenue figures missed industry expectations, sending the company’s shares down nearly 10%.
Online trading platform Robinhood fell 9.4% in after-hours trading after its Q1 revenue missed analyst estimates, while crypto revenue and trading volume fell nearly 50% from a year ago.
Robinhood’s crypto transaction revenue fell 47% year-on-year from $252 million to $134 million, while crypto trading volume fell 48% to $24 billion over the same period, according to the company’s Q1 earnings report on Tuesday.
Robinhood’s transaction-based crypto revenue fell for the third consecutive quarter in Q1. Source: Robinhood