Robinhood slides 4% despite earnings beat as crypto revenue cools
In brief
- Robinhood posted $1.31B revenue, up 32% YoY, narrowly beating $1.29B consensus forecast
- Crypto revenue fell 38% to $100M, offset by surging options, equities and prediction markets
- Robinhood Chain generated hundreds of millions in daily DEX volume across tokenized assets
- Company launched Agentic Trading, AI tools enabling third-party assistant integrations
Earnings beat, stock stumbles
Robinhood reported adjusted earnings per share of $0.62, well ahead of analysts' $0.43 estimate. Revenue climbed 32% from a year earlier to a record $1.31 billion, narrowly topping the $1.29 billion consensus forecast. The market's response was muted. Investors fixated on one number: crypto.
Crypto revenue fell 38% year over year to $100 million from $160 million. That's the headline that moved the needle.
Offsetting gains in options and prediction markets
Transaction revenue was lifted by surging options, equities and prediction markets activity. The company's diversification strategy is working—just not in the crypto segment investors were watching. Options and equities trading, along with the newly popular prediction markets, kept overall transaction revenue climbing.
Blockchain expansion and AI tooling
Robinhood continued pushing into blockchain infrastructure. The company launched Robinhood Chain, a blockchain network that supports tokenized U.S. stocks for eligible European customers, and the network has already gained traction. Robinhood Chain has generated hundreds of millions of dollars in daily decentralized exchange volume since launch. Tokenized stocks such as GameStop, Nvidia and SpaceX emerging among its most actively traded real-world assets.
On the software side, Robinhood unveiled Agentic Trading, a new set of AI tools that allow customers to connect third-party AI assistants to their brokerage accounts. The product reflects a broader industry shift toward embedding AI into trading workflows.
"Whether it's the Robinhood Chain, Robinhood Ventures, or Trump Accounts, our product velocity is focused on one goal: making everyone an owner" — Vlad Tenev, Chairman and CEO of Robinhood
