Crypto trading revenue "halved"! Robinhood Q1 earnings miss expectations, shares fall 8% in after-hours trading

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Robinhood (ticker: HOOD) released its Q1 earnings report, with both revenue and profit falling short of market expectations, primarily due to a 50% year-over-year decline in cryptocurrency trading revenue. Following the announcement, Robinhood shares plunged approximately 8% in after-hours trading. According to FactSet data, Robinhood's Q1 adjusted earnings per share (EPS) was $0.38, missing the Wall Street expectation of $0.39. While revenue jumped 15% year-over-year to $1.07 billion, it still fell short of the $1.14 billion analysts had anticipated. As the "cash cow" for Robinhood's fee-based revenue, cryptocurrency-related revenue dropped 47% year-over-year, falling from $252 million in the same period last year to $134 million. In response, CEO Vlad Tenev stated during the earnings call, "I don't want to talk about Bitcoin prices anymore." He emphasized that the company is focused on using crypto technology as "infrastructure" for financial services. Event contracts emerge as a breakout, other transaction revenue surges 320% Despite the weakness in cryptocurrency trading, Robinhood showed surprising momentum in other areas. Bolstered by strong new product performance, the company's total transaction revenue for Q1 grew from $583 million last year to $623 million. The standout performer was "event contracts," which drove a 320% year-over-year increase in "other transaction revenue" to $147 million. Robinhood stated that in Q1 alone, users traded as many as 8.8 billion contracts related to prediction markets. Vlad Tenev commented on this: "As long as you can build great products, users will stay regardless of whether the market is in a bull or bear phase." To reduce its reliance on cryptocurrency trading and break free from the fate of having performance "at the mercy of the market," Robinhood is actively expanding its business footprint, extending its reach into prediction markets, derivatives, and wealth management tools. Cryptocurrency exchange giant Coinbase (ticker: COIN), which also faces transformation challenges, is set to release its earnings report on May 7. As both companies rely heavily on retail trading, Coinbase shares were also affected, falling about 1% on Tuesday.

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Published:2026-04-29 05:56:43

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