Robinhood Increases Revenue By 131% In Q2, Shares fall

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Revenue of stock trading app Robinhood Markets Inc (NASDAQ:HOOD) more than doubled in the second quarter to $565 million, as revealed by the company’s first earnings report on Wednesday. Q2 2021 hedge fund letters, conferences and more Impressive ResultsAccording to data, Robinhood’s revenue grew by 131% from $244 million the same quarter last year to $574 million, surpassing the firm’s forecast of $546 million. As reported by CNBC, the main driver behind the impressive figures is crypto trading, which totaled $233 million, “more than half of all the transaction-based revenue of $451 million f…

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