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Robinhood Stock Falls 13% After Crypto Revenue Drops Despite Strong Q1 Growth

Aditya Raghunath4 minute read
Reviewed by: Thomas Richmond
Last updated Apr 30, 2026

Key Stats for Robinhood Stock

  • Price change for Robinhood stock: -13%
  • $HOOD Share Price as of Apr. 29: $71
  • 52-Week High: $154
  • $HOOD Stock Price Target: $101

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What Happened?

Robinhood (HOOD) stock dropped about 13% after the company missed both revenue and earnings estimates for Q1 2026.

  • The culprit was a sharp drop in crypto trading revenue, which fell 47% to $134 million from $252 million a year ago.
  • Overall revenue still grew 15% to $1.07 billion, but that fell short of the $1.13 billion Wall Street expected.
  • GAAP EPS came in at $0.38, just a penny below the $0.39 estimate.
HOOD Stock Q1 Earnings vs. Estimates in Billion USD (TIKR)

CEO Vlad Tenev pushed back on the crypto narrative during the earnings call. “I want to get away from talking about the price of bitcoin,” he said, framing crypto as infrastructure rather than a trading driver.

Robinhood is betting on tokenization — bringing real-world assets like stocks onto blockchain rails — as its long-term crypto play.

See analysts’ growth forecasts and price targets for Robinhood stock (It’s free) >>>

What the Market Is Telling Us About Robinhood Stock

The miss stings, but there were real bright spots underneath the headline numbers.

  • Event contracts — think prediction markets — saw “other transaction revenue” surge 320% year-over-year to $147 million.
  • Users traded a record 8.8 billion prediction-market contracts in Q1 alone.

Robinhood stock has been on a strong run as the company diversifies.

  • Gold subscribers hit a record 4.3 million, up 36% year-over-year.
  • The Gold credit card surpassed 800,000 customers.
  • Robinhood Banking grew 5x since last quarter with over $2 billion in net deposits and a 40% direct deposit rate — a sign customers are treating it as a primary bank, not just an add-on.
  • Net deposits came in at $18 billion for the quarter, maintaining 20%-plus annualized growth despite a rocky macro backdrop that included a government shutdown, a software selloff and a global conflict.
HOOD Stock Valuation Model (TIKR)

Looking ahead, April is already trending stronger. Options and equity volumes are on track for the second-highest month in company history. Net deposits are already at $5 billion month to date.

For long-term investors, Robinhood stock is clearly building something bigger than a trading app. The question is whether the market will wait for the diversification story to play out fully.

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Disclaimer:

Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!

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