Stock and crypto investing app Robinhood reported $441 million in net revenue in Q1 2023, up 16% from the previous quarter.
Its increased numbers, however, did not come from its crypto business – which appears to be trending in the opposite direction.
Crypto Down, Interest Up
Per the company’s first-quarter results report on Wednesday, Robinhood’s transaction-based revenues increased 11% quarter over quarter to $207 million.
This included a 7% increase in options revenue to $133 million, and a 29% increase in equities revenue to $27 million. On the other hand, crypto revenue declined by 1% to $38 million.
The crypto figure is also 30% down year over year from $54 million in Q1 2022, when the digital asset valuations were significantly higher. Robinhood’s net revenue over that time increased 47.5%, from $299 million a year prior.
The company’s biggest earner since last year was interest revenue. Which rose 25% to $208 million. Rate hikes from the Federal Reserve beginnin
We współpracy z: https://cryptopotato.com/robinhood-q1-revenue-up-16-but-not-in-crypto/
