Trade platform Robinhaood still managed to defeat estimates on Wall Street as the first quarter revenues fell and the amount of crypto trading it was cooled from a high Q4 record.
Robinhood Q1 results shared On April 30 the show's revenues fell 8.6% from the previous quarter to $ 927 million, leading to Zacks Analyst Estimates of 3.16%.
Company's crypto revenue dropped nearly 30% quarter-on-quarter up to $ 252 million from record-setting Q4 2024.
The collapse may be slightly attributed to the tariffs of the Trump administration, which triggered an 18% fall in the crypto market cap in the quarter.
Robinhood's crypto trading volume also fell 35% in Q1 compared to the fourth quarter of 2024, which the firm associated with a 10% fall in customer trading placed and a 27% fall on the average volume in each trade.
Robinhood CEO Vladimir Tenev Says In a call income that crypto trading volumes will continue to change but the firm is more focused on getting as much shares as market as possible.
Despite the fall since last quarter, Robinhood's crypto income rose 100% from the same quarter a year ago, as trade volumes jumped 28% at the same time.
The firm has also added $ 500 million so far to the $ 1.5 billion buyback permission program, which aims to boost the shareholder value and confidence in the financial company's health. The company has bought $ 667 million worth of shares to this day.
Robinhood shares (hood) rose 1.51% in trade after Data Shut up.
Tenev said the $ 200 million Robinhood acquisition of the Bitstamp Crypto Exchange is still looking for a likely regulation of regulation in the midst of 2025, which will provide service to US institution investors.
The pressure of the regulation also eased for Robinhood in the Q1 after the Securities and Exchange Commission closed its investigation into the company's crypto business business in February. 21.
Crypto tokenization remains a major focus for Robinood
Tenev said Robinhood is still exploring the integration of crypto tokenization in the company's services.
Tokenizing private equities is a “big unlock” for both individuals and companies who can solve many problems with secondary market transactions, he said.
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“I think it will open a ton of economic amounts for the US crypto industry,” Tenev said.
The Robinhood CEO has previously said that crypto tokenizations can let investors buy tokenized shares with large private companies such as Openai and Spacex within minutes.
“That's kind of our main purpose of Washington policy when it comes to crypto,” Tenev said.
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