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Robinhood Beats Estimates as Crypto Revenue Almost Doubles

From msn.com

Robinhood Markets Inc. posted second-quarter revenue that beat Wall Street estimates, boosted by strength in cryptocurrency trading. Total net revenue climbed 45% from a year earlier to $989 million, the company said Wednesday in a statement. That topped the $921.5 million average estimate of analysts surveyed by Bloomberg. Net income more than doubled to $386 million, or 42 cents a share, also better than expected. Cryptocurrency revenue increased 98% to $160 million, just missing a sixth consecutive quarter of triple-digit growth. Analysts expected crypto revenue of $162.1 million. In June, Robinhood drew swift ... (full story)

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