Robinhood reports Q2 revenue of $565M, up 131% YoY, net loss of $502M, down from $58M net income in Q2 2020, and crypto revenue of $233M; stock down 5%+
Robinhood's revenue more than doubled in the second quarter to $565 million, bolstered by a massive surge in crypto trading …
Why basically every fintech/trading/payments app is trying to add crypto these days: “The three months ended June 30, 2021 is the first quarter where a larger share of new customers placed their first trade in crypto rather than equities.” https://investors.robinhood.com/ ...
In their first earnings report as a public company, @RobinhoodApp reported a 4,560% increase in revenue from crypto trading YoY. The company also announced over 60% of active accounts on its app traded cryptocurrencies in Q2 2021. Article by @CNBC. https://www.cnbc.com/... https:…