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 income falls nearly 30% quarter-on-quarter up to $ 252 million from firm Record-setting Q4 2024.
The fall may be slightly attributed to Tariffs of the Trump administration, that triggered a 18% fall in the captto 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 falling from the last quarter, Robinhood’s Crypto income Rose 100% from the same quarter a year ago, while trading volumes jumped 28% at the same time.
The firm also added $ 500 million so far of $ 1.5 billion Buyback Permissions Program, aims to boost the value of the shareholder and confidence in the company’s financial 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 $ 200 million taking Robinhood of Bitstamp Crypto Exchange is still looking for a likely regulation of approved by 2025, which will provide service to US institution investors.
Regulation pressure also lighted for robinhood to Q1 after the Securities and Exchange Commission Closed its investigation In the company’s crypto business in February. 21.
Crypto tokenization remains a major focus for Robinood
Tenev said Robinhood is still exploring Integration of crypto tokenization to the services of the company.
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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