Robinhood’s Q1 Revenue Soars, Cryptocurrency Income More Than Doubles

Online broker Robinhood released its Q1 financial report, with revenue surpassing expectations at $618 million. Revenue from trading-based activities increased by 59% year-on-year, reaching $329 million, mainly contributed by cryptocurrency income. Net profit significantly increased to $157 million (compared to $30 million in the previous quarter). Robinhood’s stock price rose 3.42% after hours, reaching $18.46 per share. The stock has risen 40% year-to-date.