Shares in Robinhood Markets Inc. rose slightly in late trading today after the financial services company reported mixed results in its fiscal 2025 first quarter.

For the quarter ended March 31, Robinhood reported diluted earnings of 37 cents per share, up from 18 cents per share in the same quarter of 2024, on revenue of $927 million, up 50% year-over-year. Both figures beat the analyst forecasts of 33 cents per share and revenue of $558 million.

Transaction-based revenues jumped 77% year-over-year, to $583 million, ahead of the $558 million expected by analysts and cryptocurrency revenue doubled to $252 million, ahead of an expected $247 million. Options revenue rose 56%, to $240 million, ahead of an expected $239 million, while equities revenue, which rose 44%, to $56 million, fell short of an expected $60 million.

Though there was only one miss in the financial figures, user numbers is where Robinhood’s results fell short. The company saw monthly active users of 14.4 million in the quarter, up from 13.7 million in the first quarter of last year but down from 14.9 million in the last quarter. The number of active users also fell short of the 15.1 million expected by analysts.

Business highlights in the quarter include the company launching several new products aimed at expanding its platform beyond trading. The company introduced Robinhood Strategies, an advisory service now managing over $100 million in assets, along with Robinhood Banking and Robinhood Cortex, an artificial intelligence-powered investment assistant.

It also enhanced its offering for active traders with updates to its Legend desktop trading platform, adding support for index options, crypto trading and advanced charting tools. In March, it expanded its prediction markets feature with the launch of a dedicated hub, bringing more visibility to a capability that had already seen over one billion event contracts traded in the prior six months.

“This quarter, we significantly accelerated product innovation across our key initiatives, highlighted by the announcement of Robinhood Strategies, Banking and Cortex,” Chief Executive Vlad Tenev said in the company’s earnings release. “Customers have clearly responded — demonstrated by record-breaking net deposits, Robinhood Gold subscriptions and options volume, as well as robust year-over-year growth in trading across all asset classes.”

Given the volatile nature of the cryptocurrency market, Robinhood generally doesn’t provide outlooks and this quarter was no different. The company said only that it expects continued engagement strength and that it plans to invest in product expansion and international growth.

Image: SiliconANGLE/Reve