2024

Gold

Robinhood Markets, Inc. has announced impressive financial results for the second quarter of 2024. The company achieved a 161% increase in cryptocurrency transaction revenues, reaching $81 million, nearly doubling its equities revenue for the same period.
Overall, Robinhood’s revenue for Q2 increased by 40% compared to last year, totaling $682 million. Options trading continued to be the biggest revenue source, bringing in $327 million.&nbsp;
Trading in digital assets also grew by 137%, reaching $21.5 billion, which is less than the $36 billion seen in the first quarter of 2024.
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 Robinhood Markets, Inc. just announced its financial results for the second quarter of 2024. Find our full performance and listen to our earnings call today at 5 PM ET at <a href="https://t.co/llL7qN2nEf" target="_blank" rel="noopener noreferrer nofollow">https://t.co/llL7qN2nEf</a> Here are the highlights from <a href="https://twitter.com/vladtenev?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@vladtenev</a>: <a href="https://t.co/SFIkqi56Ja" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/SFIkqi56Ja</a>— Robinhood (@RobinhoodApp) <a href="https://twitter.com/RobinhoodApp/status/1821277044635844963?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 7, 2024</a>
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One thing that made this possible is Robinhood’s acquisition of Bitstamp, a crypto exchange in June last year. Although this acquisition is expected to benefit Robinhood in the future as it broadens its global licenses; it is unclear how much impact it will have right away.
In addition, monthly active users rose to 9% bringing Robinhood to a total of 11.8 million, while the company’s net worth surged by 652% to $188 million. Its earnings per share also increased to 0.21. Furthermore, the Robinhood Gold subscription service experienced a growth rate of around 61%, totaling two million subscribers.
However, even after such strong performance figures were released, Robinhood’s stock fell slightly by 0.52% in after-hours trading, closing at $17.12.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/08/05/robinhood-disabled-24-hour-trading-amidst-market-turmoil/" rel="noopener noreferrer nofollow">Robinhood Disabled 24-hour Trading Amidst Market Turmoil</a>
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Robinhood Reports 161% Surge in Crypto Revenue for Q2

The Crypto Times

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