Robinhood shares fall on weak crypto trading volumes
Robinhood shares fell after missing revenue estimates due to a slump in crypto trading. Transaction revenue grew 7 percent while crypto revenue dropped 47 percent.
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ROBINHOOD MARKETS INC - A shares fell 10% on Wednesday morning after missing first-quarter profit and revenue estimates. Transaction-based revenue grew 7% to $623 million, trailing LSEG estimates of $728.2 million as crypto trading activity slowed. Retail investor exhaustion in digital assets threatens the platform's primary growth engine despite efforts to diversify financial services.
