Robinhood Rides Crypto Rebound to Beat Q1 Estimates
Robinhood's revenue increased by 50% in Q1, reaching $927 million, surpassing forecasts of $920 million. Earnings rose to 37 cents per share, exceeding estimates. Net income surged 114% to $336 million year-over-year. The crypto segment generated $252 million in revenue, a 100% increase from the previous year, slightly above the predicted $247 million. Revenue from options and equity transactions rose by 55% and 44%, respectively. Market conditions remain volatile due to trade tensions between the U.S. and China. Investors are turning to crypto as a hedge against inflation, with Bitcoin rebounding to around $95,000 after a drop. Robinhood's Gold program added 1.5 million subscribers, totaling 3.2 million. Shares closed at $49.11, down 1% in 24 hours but up 197% over the past year.
