Robinhood Reports Strong Q1 Performance, Analyst Calls It No Longer a ‘Joke’

Robinhood announced a record-breaking first quarter, with revenue surging 50% year-over-year to $927 million and net income more than doubling to $336 million. The trading platform’s impressive performance saw record net deposits of $18 billion, along with an increase in Robinhood Gold subscribers, which reached a new high at 3.2 million, a 90% rise from the previous quarter. They also continued developing their product suite, introducing AI-powered financial planning tools and expanding their prediction markets hub.