While the encryption market is recovered from a historical march, Robinhood, Online mediation This provides digital assets, shares and other investments, plans to rely on their other offers, although increasingly dependent on the volume of encryption trading in recent years.
Vlad Teenv, CEO of Robinhood, said in a file Profits Call with shareholders on Wednesday, with a recognition of the Crypto brand. “We are diversifying business outside the encryption, which will make us less dependent on Encryption Transactions folders. “
Robinhood It was mentioned 927 million dollars in the revenue of the first quarter on Wednesday, a slight decline from the end of last year when the revenues rose to $ 1 billion. DIP is partly due to the decrease in the company’s encoding revenues by 30 % from $ 358 million in the last quarter to $ 252 million. The volume of encryption trading on the pigeon platform from 71 billion dollars in the fourth quarter to $ 46 billion in the first quarter.
Since the introduction of Crypto in 2018, the assets category has grown to pay large revenues from Robinhood, which comes primarily from sending the orders of their customers to be traded to foreign companies called market makers. Nevertheless, these encryption revenues often come Unpredictable waves– In 2021, when the revenues of the distinctive symbol in the distinctive symbol helped fuel the robot to a record quarter, but then Dried up After months.
On her last trip on Crypto Roller-Coastter, Robinhood’s reap for an increase in the last quarter after abundance in the election of President Trump, who sent Bitcoin to a record level of $ 109,000 in early January. Since then, despite its decrease to $ 84,000 amid the repercussions of the broader market of Trump’s trade war.
While Crypto’s revenues have decreased since the last quarter, the Robinhood profit report defeated analysts who expected a significant trading volume a greater impact on the company’s revenues. Robinhood has reported the arrow’s profits per 37 cents, which increased the expectations of previous 33 cents, according to data from Wall Street Journal. The company’s revenues have also increased by 50 % since the same period last year.
After trading hours, the RobinHood share price increased by approximately 2 % on profit news.
This story was originally shown on Fortune.com
https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-1812182818-e1746049689617.jpg?resize=1200,600
Source link