Robinhood reported first-quarter results that missed expectations, with revenue of $1.07 billion and adjusted earnings per share of $0.38 both coming in below forecasts.
The miss was driven by a sharp 47% decline in crypto-related revenue to $134 million, reflecting reduced trading activity in digital assets compared with the previous year.
“I want to get away from talking about the price of bitcoin,”
Said Robinhood CEO, Vlad Tenev.
Despite the crypto slowdown, overall revenue rose 15% year over year, supported by growth in transaction-based products and a surge in prediction market activity.
Transaction revenue increased to $623 million, with “other” revenue jumping 320% to $147 million as users traded a record 8.8 billion event contracts.
The results signal a shift in user behaviour toward diversified trading products, as Robinhood expands into derivatives, prediction markets, and subscription services to reduce reliance on crypto cycles.
Robinhood shares fell about 8% in post-market trading following the earnings release, while peers like Coinbase also saw mild declines amid broader crypto-related weakness.
At the time of reporting, Bitcoin price was $76,587.19.