Trading platform Robinhood managed to exceed Wall Street estimates despite a dip in revenue and crypto trading volume in India. Robinhood’s first-quarter results, released on April 30, showed an 8.6% decrease in revenue to $927 million from the previous quarter, surpassing Zacks analyst projections by 3.16%. The company’s crypto revenue also dropped nearly 30% to $252 million from its record-setting Q4 2024. This decline could be linked to the 18% decrease in the crypto market cap triggered by the Trump administration’s tariffs. Crypto trading volume on Robinhood decreased by 35% in Q1 compared to the fourth quarter of 2024, attributed to a 10% reduction in customer trades and a 27% decline in average notional volume per trade. Robinhood CEO Vladimir Tenev mentioned that crypto trading volumes might fluctuate, but the focus remains on capturing market share. Despite the quarterly drop, Robinhood’s crypto revenue surged by 100% compared to the same quarter a year ago, with trading volumes increasing by 28% over the same period. The company added $500 million to its $1.5 billion buyback authorization program to enhance shareholder value and confidence. Robinhood’s shares rose by 1.51% in after-hours trading on April 30, reaching $49.85. Tenev expressed optimism about the $200 million acquisition of Bitstamp crypto exchange receiving regulatory approval by mid-2025 to cater to institutional investors in the US. In Q1, regulatory pressure eased after the Securities and Exchange Commission closed its investigation into Robinhood’s crypto business on Feb. 21. Tenev highlighted that crypto tokenization remains a priority for Robinhood, aiming to integrate it into the company’s services to unlock economic value in the US crypto industry. The CEO emphasized that tokenizing private equities could revolutionize secondary market transactions, providing individuals and companies with a significant advantage. Robinhood’s potential to offer tokenized shares in prominent private companies like OpenAI and SpaceX within minutes aligns with the company’s policy objectives in Washington regarding crypto.