Robinhood's Record Q1 Earnings Driven by Crypto Trading Surge

Despite SEC scrutiny, Robinhood's first-quarter profits soar, fueled by a significant increase in cryptocurrency transactions.

Robinhood's Q1 revenue hit $618 million, a 40% increase year-over-year, with cryptocurrency transactions contributing $126 million.
Shares of Robinhood rose following the announcement, reflecting investor confidence despite potential regulatory challenges.
The company's crypto arm, under SEC investigation, accounted for a substantial part of its transaction-based revenue.
Robinhood introduced a new credit card for its premium subscribers, adding over a million customers to its waitlist.
Legal costs from ongoing SEC scrutiny are anticipated to impact Robinhood's financials, though the firm remains optimistic about growth.