2 years ago
Michael Bellusci is CoinDesk's crypto payments reporter.
Robinhood Markets (HOOD) reported $54 cardinal successful crypto gross during the archetypal quarter, versus $48 cardinal successful the 4th quarter. The institution reported $51 cardinal successful crypto gross successful past year’s 3rd quarter, which was down from a grounds $233 cardinal successful the erstwhile quarter.
The fashionable no-fee trading app posted wide Q1 revenues of $299 cardinal versus FactSet’s statement expert estimation of $355 million. The institution besides reported an adjusted net nonaccomplishment of 45 cents per stock versus the statement expert estimation nonaccomplishment of 38 cents per share.
The institution said successful a statement Thursday that nett cumulative funded accounts accrued to 22.8 cardinal arsenic of March 31 from 18.0 cardinal successful the year-ago quarter. Robinhood said the summation was "primarily driven by ample lawsuit involvement successful cryptocurrencies during the 2nd 4th of 2021."
In its caller crypto moves, Robinhood agreed to buy London-based crypto level Ziglu, which is approved to connection crypto services successful the U.K. The institution besides added tokens SHIB, SOL, Polygon's MATIC and Compound's COMP to its level for users aft activating its crypto wallet for 2 cardinal “eligible” customers, making integer plus transfers broadly imaginable successful the long-firewalled investments app.
Shares of Robinhood fell astir 9% successful after-hours trading connected Thursday.
Robinhood is hosting a telephone with analysts to sermon its net study astatine 5:00 p.m. ET.
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Michael Bellusci is CoinDesk's crypto payments reporter.
Michael Bellusci is CoinDesk's crypto payments reporter.
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