Robinhood stock shrugs off a 47% crash in crypto revenue thanks to a massive surge in event betting
Robinhood's stock dropped 8% after missing Q1 2026 earnings and revenue forecasts, driven by a 47% year-over-year decline in crypto revenue to $134 million. Despite this, overall revenue rose 15% to $1.07 billion, fueled by a 320% surge in event contract trading. CEO Vlad Tenev emphasized diversification beyond crypto price cycles, highlighting growth in prediction markets and financial infrastructure. The platform recorded 8.8 billion event contracts traded, reflecting shifting user engagement patterns.
- ▪Robinhood's crypto revenue fell 47% year over year to $134 million in Q1 2026.
- ▪Overall revenue increased 15% to $1.07 billion, driven by a 320% rise in event contract revenue to $147 million.
- ▪Transaction-based revenue reached $623 million, supported by strong growth in prediction markets.
- ▪Robinhood's shares dropped 8% in post-market trading after the earnings report.
- ▪CEO Vlad Tenev stated the company is focusing on crypto as financial infrastructure rather than just trading.
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MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailRobinhood stock falls 8% after big earnings miss due to weak crypto trading revenueWhile 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 $1.07 billion.By Helene Braun|Edited by Jamie CrawleyUpdated Apr 28, 2026, 10:56 p.m. Published Apr 28, 2026, 8:28 p.m. 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.
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