Robinhood had $26.2 billion in user's crypto in custody as of March 31, a 78% jump from the end of 2023.
The larger transaction revenue due to crypto trading isn't surprising as another publicly traded crypto peer, Coinbase , also reported"blowout" first quarter numbers due to improving crypto market conditions.Robinhood also handily beat its first-quarter sales and earnings estimates. The company reported $618 million in revenue in the quarter, ahead of analyst estimates of $552.7 million, according to FactSet data. First quarter earnings were $0.
Shares of Robinhood were up about 7% in post-market trading on Wednesday, while Coinbase shares were down slightly. HOOD stock has risen about 40% for the year, while COIN has gained 22%.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheBlock__ - 🏆 464. / 53 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
goodcryptoX Launches Public Beta, Bringing Advanced Trading Tools to Decentralized Crypto TradinggoodcryptoX, the next generation DEX trading platform, has officially launched in public beta, providing DeFi traders with access to advanced trading tools previously only available on centralized platforms.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: TheBlock__ - 🏆 464. / 53 Read more »