Hudson River Trading recorded $6.4 billion in trading revenue in the first quarter, an advance of 135% from the equivalent period last year, people familiar with the matter said.
That quarterly revenue alone represents more than half of the firm’s total trading revenue for all of 2025, the people added, underscoring the concentration of the year’s trading gains in the opening quarter.
Profit for the period climbed to roughly $4.2 billion, an increase of about 175% compared with the year-earlier quarter, the people said. On an earnings basis before interest, taxes, depreciation and amortization, the firm reached $4.5 billion in the first quarter, according to the same sources.
Hudson River Trading finished the quarter with $20 billion in net trading capital available to support activity across asset classes, the people said. That capital figure reflects the resources the firm deploys when trading in different markets.
The people who provided the figures noted the results occurred during a stretch of market volatility, a backdrop that coincided with the elevated revenue and profit outcomes reported for the period.
Summary of results
- Trading revenue: $6.4 billion in Q1 - up 135% year-over-year.
- Profit: about $4.2 billion in Q1 - up approximately 175% year-over-year.
- EBITDA: $4.5 billion in Q1.
- Net trading capital at quarter end: $20 billion.
The information above is drawn from people familiar with the matter who provided the figures. Details beyond these numbers were not provided by those sources.