PANews April 29 news, according to The Block, Robinhood's cryptocurrency revenue for the first quarter was $134 million, with an in-app nominal trading volume of $24 billion, reflecting declines of 47% and 48% year-over-year, respectively. Robinhood stated that its Ethereum Layer 2 blockchain has processed over 100 million transactions. The company's overall trading revenue rose 7% year-over-year to $623 million, mainly driven by a 320% increase in event contract revenue. Robinhood's options revenue was $260 million, an 8% increase; stock revenue was $82 million, a 46% increase. The company reported a net profit of $346 million, a 3% increase year-over-year. Robinhood's stock price dropped over 6% in after-hours trading to $76.99.

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