Robinhood Smashes Q1 Earnings—Wall Street Sheds Its ’Millennial Toy’ Stigma

Robinhood just flexed its financial muscles with a knockout Q1—turns out those ’dumb money’ traders were onto something.

The zero-commission pioneer posted numbers so strong even legacy brokers paused their yacht payments to check the math. Crypto trading volumes? Up. Options activity? Surging. User growth? Let’s just say the ’meme stock’ crowd isn’t leaving.

One analyst’s verdict: ’This isn’t your kid brother’s trading app anymore.’ (Though let’s be real—the hedge funds still think they’re playing with Monopoly money.)

Analyst: no longer a ‘joke’

Mizuho analyst Dan Dolev praised Robinhood’s performance during a CNBC interview following the report. He described the report as “one of their best quarters on record,” noting the company’s all-time highs in funded accounts and revenue. The stock traded lower by 4% following the report, suggesting the dip represents “a buying opportunity.” Robinhood’s stock recovered from its morning lows of $46.53 and traded at $48.64 at press time, down less than 1%.

“They’re getting into Asia, they’re getting into Europe,” the analyst said. “Their product velocity is the best one I’ve ever seen with Robinhood Gold. Pretty much every quarter there is something new and so I think over time what you are going to see is that they are not going to bifurcate from the volatility, but they’re going to fare better than the volatility.”

Robinhood deserves credit for its aggressive push into what Dolev describes as a $600 billion total addressable market. The company is seeing strong results, notably from higher net-worth clients that typically flock to legacy platforms like Schwab and Interactive Brokers.

“Three years ago everyone thought [Robinhood] was a joke for millennials,” Dolev said. “And now people are taking them really seriously. And I think their competitors are getting worried about them taking assets away.”