Robinhood Slumps After Earnings Miss as Market Eyes Coinbase

Robinhood's stock price plummeted by approximately 8% after it announced its Q1 2026 earnings, missing market expectations. The company reported revenue of $1.07 billion, below the consensus estimate of $1.14 billion. Adjusted earnings per share (EPS) was $0.38, also lower than analyst predictions of $0.39.

The disappointing results ended Robinhood's streak of three consecutive quarters of growth and sparked concern over Coinbase's upcoming earnings announcement on May 7th. Coinbase shares fell nearly 3% following the news, briefly dropping below $190.

Despite their differences in development paths - with Robinhood expanding into traditional finance and Coinbase adding stock trading - both companies have blurred boundaries between them in recent years. Their financial metrics are increasingly intertwined, leading to heightened market anxiety over potential declines.