Robinhood Q1 crypto revenue drops 47% year-over-year; HOOD falls more than 6% after hours

Robinhood Markets (HOOD) released its 2026 first-quarter earnings report after the market closed on Tuesday (April 28). Cryptocurrency trading revenue was $134 million, down 47% year over year. According to TradingView data, after the earnings release, HOOD shares fell by about 6% in after-hours trading, to $82.05.

First-Quarter Core Financial Results

According to Robinhood’s earnings report, the company’s key performance figures for the 2026 first quarter are as follows:

Cryptocurrency trading revenue: $134 million, down 47% year over year

First-quarter net profit: $346 million, diluted earnings per share of $0.38, below analysts’ expectations of $0.39

Total net revenue: $1.07 billion, up 15% year over year, below analysts’ expectations of $1.14 billion

Year-over-year growth in net revenue: 3%

Total platform assets: $307 billion, up 39% year over year

In the earnings statement, Vlad Tenev, chairman and CEO of Robinhood, said: “Robinhood’s role in customers’ financial lives is becoming increasingly important.”

Background on the decline in cryptocurrency revenue and HOOD’s stock reaction

(Source: Trading View)

According to Robinhood’s earnings report, in the first quarter, cryptocurrency trading revenue fell 47% year over year to $134 million, due to a slowdown in overall digital asset trading activity on the platform. Robinhood said in its report that its businesses—including stocks, options, futures, and prediction markets—achieved double-digit growth or set trading volume records, but total net revenue in the first quarter still came in below analysts’ expectations of $1.14 billion.

Based on TradingView data, HOOD was trading at $82.05 after hours, down more than 46% from its all-time high of $153.86 in October 2025.

Progress on prediction markets, Robinhood Chain, and tokenization initiatives

According to Robinhood’s earnings report, for new business in the first quarter, the company reached a record high in bet volume for prediction markets offered through Kalshi, with trading fees of 1 cent per transaction. Robinhood has also launched the Robinhood Chain public testnet, an Ethereum (ETH) Layer 2 network built around tokenized assets. Tokenized stock products in Europe continue to provide users with investment pathways to private companies such as OpenAI and SpaceX.

Frequently Asked Questions

How much was Robinhood’s first-quarter cryptocurrency trading revenue? What was the year-over-year decline?

According to Robinhood’s earnings report, in the 2026 first quarter, cryptocurrency trading revenue was $134 million, down 47% year over year, due to an overall cooling in digital asset trading activity on the platform.

Did Robinhood’s Q1 earnings meet Wall Street expectations? What was the key gap?

According to Robinhood’s earnings report, total net revenue in the first quarter was $1.07 billion, below analysts’ expectations of $1.14 billion; diluted earnings per share was $0.38, below the expected $0.39.

What was HOOD’s performance after the earnings release?

According to TradingView data, HOOD fell by about 6% in after-hours trading, to $82.05, down more than 46% from its all-time high of $153.86 in October 2025.