Robinhood Profit Misses Estimates on Weak Crypto Trading
Robinhood missed Q1 profit estimates as crypto revenue fell 47 percent. The firm reported earnings of 38 cents per share while shares fell 6 percent Tuesday.
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ROBINHOOD MARKETS INC - A reported first-quarter profit of $0.38 per share, missing Wall Street expectations of $0.44. Shares fell 6% in extended trading after crypto transaction revenue plunged 47% to $134 million. The results signal that retail trading activity in the United States is cooling as optimism following President Donald Trump's return to the White House faded.
