Robinhood reported a rise in first-quarter profit on Wednesday, helped by robust crypto trading volumes from clients looking to hedge their positions. The retail trading platform's net income attributable to common stockholders came in at $336 million,

Retail trading platform Robinhood's first-quarter profit more than doubled and beat analysts' estimates, driven by a surge in trading volumes from clients looking to hedge their positions amid choppy markets.

Retail investors flocked to Robinhood Markets Inc. as President Donald Trump’s global tariffs roiled markets, boosting the company’s revenue and earnings, even as growth in cryptocurrency revenue slowed.