Robinhood stock falls 8% after big earnings miss due to weak crypto trading revenue
Robinhood (HOOD) missed first-quarter earnings and revenue estimates after reporting a sharp drop in cryptocurrency trading revenue, even as growth in its other businesses pushed overall revenue higher. The popular trading platform reported first-quarter adjusted earnings of $0.38 per share, missing Wall Street expectations of $0.39, according to FactSet data. Although the company’s total revenue…