HomeUncategorizedRobinhood’s Q1 crypto revenue drops 30% from the previous year By Cointelegraph

Robinhood’s Q1 crypto revenue drops 30% from the previous year By Cointelegraph

May 11, 2023

[ad_1]



First quarter results are in for cryptocurrency and stock trading app Robinhood (NASDAQ:), with the company reporting a 30% year-on-year revenue drop for its crypto trading business.

Released May 10, Robinhood’s Q1 2023 earnings revealed $38 million in crypto trading revenues over the period, dropping from $54 million in Q1 2022.

Crypto transaction revenues (dark green) for Robinhood Source: Robinhood
Robinhood’s crypto under custody (light green) saw a quarterly gain and sits at $12 billion, the same figure from two years ago. Source: Robinhood