Robinhood crypto revenue falls 55% to $120 million but beats forecasts
Briefing by News4U · First published
Robinhood said crypto transaction revenue fell 55% year over year to $120 million, still above the $114.1 million Wall Street estimate, while total revenue rose 12% to $1.424 billion.
Robinhood's crypto trading revenue fell 55% year-over-year to $120 million, CoinDesk reported from the company's Tuesday earnings, remaining ahead of Street forecasts for $114.1 million after about $267 million a year earlier. [1]
Crypto accounted for 8.4% of Robinhood's $1.42 billion in total quarterly revenue, compared with roughly 21% a year earlier, as total crypto trading volume fell 38% to $50 billion, including $21 billion through the Robinhood app and $29 billion through Bitstamp. [1]
Total revenue rose 12% year-over-year to $1.424 billion. Options trading generated $399 million, equities revenue reached $121 million, and prediction markets brought in $173 million. Robinhood Chain processed more than $80 billion in decentralized exchange volume and over $50 million in chain fees in its first mainnet quarter, and shares were down about 5% after hours. [1]
Sources
- Robinhood (HOOD) earnings: Crypto revenue slumps, but tops diminished forecasts
CoinDesk · · Full text