Robinhood stock falls 8% after big earnings miss due to weak crypto trading revenue

A notable development has hit the crypto markets. Search / News Video Prices Research Consensus 2026 Data & Indices Sponsored Search / en Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Robinhood stock falls 8% after big earnings miss due to weak crypto trading revenue While the trading platform’s crypto revenue tanked 47% to $134 million, a record-breaking surge in prediction market bets helped push overall revenue up 15% to $1. By Helene Braun | Edited by Jamie Crawley Updated Apr 28, 2026, 10:56 p. Published Apr 28, 2026, 8:28 p.

Make preferred on What to know : Robinhood missed its first-quarter 2026 total revenue and adjusted earnings per share due to a drop in crypto trading. Crypto-related revenue dropped 47 percent to $134 million as customer activity shifted toward other products, including a surge in event contracts that helped lift transaction-based revenue to $623 million. The company's shares fell 8% in post-market trading.

Market Dynamics

Robinhood (HOOD) missed its first-quarter earnings and revenue estimates after reporting a sharp decline in crypto trading revenue, even as growth in other parts of its business pushed overall revenue higher. The popular trading platform reported first-quarter adjusted earnings per share of $0. 38, missing Wall Street's $0.

39 estimate, according to FactSet data. While the company posted a 15% year-over-year increase in total revenue to $1. 07 billion, it fell short of analysts' expectations of $1.

Shares fell about 8% in post-market trading following the report. Crypto-related revenue, one of Robinhood’s largest transaction drivers, dropped 47% to $134 million from $252 million a year earlier. The decline comes as the company tries to shift the narrative away from crypto price cycles.

Market Impact

“I want to get away from talking about the price of bitcoin,” CEO Vlad Tenev said on the earnings call, adding that Robinhood is focused on using crypto technology as “infrastructure” for financial services. The drop in crypto trading revenue coincided with stronger activity in other areas. Transaction-based revenue rose to $623 million from $583 million a year earlier, helped by growth in newer products.

A key driver was event contracts, which pushed “other transaction revenue” up 320% year over year to $147 million. Robinhood said users traded a record 8. 8 billion contracts tied to prediction markets during the quarter.

The results highlight a shift in how customers are using the platform. “If you build great products… they’ll be there throughout the cycle,” Tenev said, pointing to more consistent engagement across asset classes. Robinhood has been expanding into areas like prediction markets, derivatives and advisory tools as it works to smooth out revenue swings.

Crypto markets are watching this development closely as investors weigh its potential impact on prices.