Robinhood's Q1 earnings mixed, plans to launch 24-hour trading for stocks and ETFs.

Robinhood's Q1 2023 earnings report showed a 30% YoY drop in revenue for its crypto trading business, with $38 million in crypto trading revenues over the period, down from $54 million in Q1 2022. However, the company's total revenue increased YoY, with Q1 2023 bringing in $441 million, compared to 2022's first quarter net revenue of $299 million. Interest was the company's biggest earner, due to the United States Federal Reserve's recent and rapid rate hikes. Robinhood's drop in crypto revenue aligns with the 40% fall in market capitalization for digital assets over the same period.