Robinhood (HOOD) Earnings Preview: Crypto Revenue Seen Falling
Robinhood’s (HOOD) record crypto trading revenue from the last quarter of 2024 may prove hard to repeat, according to JPMorgan analyst Kenneth Worthington, who forecast a drop in digital asset volumes for the first quarter of this year.
The online trading platform reports first quarter results after the U.S. market close on Wednesday.
The fourth quarter’s staggering 700% surge in cryptocurrency trading revenue was behind a sizable jump in HOOD’s overall transaction-based revenue. Worthington, however, sees that momentum stalling in the first quarter, citing a decline in both equity and crypto markets, especially in the latter half of the quarter.
Worthington and team estimate Robinhood users traded about $52 billion in crypto during the…
