Robinhood revenue falls 43% as trading volumes moderate

2022.04.28 23:36

FILE PHOTO: The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company’s IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly

(Reuters) – Robinhood Markets Inc (NASDAQ:HOOD), the brokerage at the center of last year’s retail trading frenzy, posted a 43% fall in first-quarter revenue on Thursday as transaction volumes declined across asset classes.

Total net revenues decreased to $299 million, compared with $522 million a year earlier.

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