Robinhood's first-quarter cryptocurrency trading revenue plummeted 47%, and earnings fell short of expectations

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Golden Finance reports that on April 29th, Robinhood (HOOD) announced its Q1 2026 earnings, with a significant decline in cryptocurrency trading revenue, resulting in revenue and earnings per share below market expectations.
The earnings report shows that Robinhood’s adjusted earnings per share for the first quarter were $0.38, below the market expectation of $0.39; total revenue increased 15% year-over-year to $1.07 billion but fell short of analysts’ forecast of $1.14 billion.
Among them, cryptocurrency-related revenue declined 47% year-over-year to $134 million, compared to $252 million in the same period last year. However, driven by a surge in predicted market contract trading, the company’s trading revenue still increased to $623 million.
Following the earnings report, Robinhood’s stock price dropped about 8% after hours.

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