Earnings

Robinhood second-quarter earnings 2021

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Robinhood’s revenue more than doubled in the second quarter to $565 million, bolstered by a massive surge in crypto trading, the stock trading app said in its first earnings report as a public company on Wednesday.

But the shares dove in after the company warned a slowdown in trading activity would hit revenues in the current quarter. Investors may also be concerned whether volatile crypto can continue to provide such a tailwind. Robinhood was last down more than 8%.

Revenue surged more than 131% in the period from $244 million a year ago and was near the high range of the company’s forecast of $546 million to $574 million.

Revenue from crypto trading totaled $233 million, more than half…



Source cnbc.com

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