Reported 2 months ago
Robinhood exceeded Wall Street's expectations for second-quarter earnings as enthusiasm for meme stocks and cryptocurrencies surged. The brokerage reported a 69% increase in transaction-based revenue to $327 million, benefiting from the return of meme-stock influencer Keith Gill. With record revenue of $682 million, Robinhood's profit of 21 cents per share also beat estimates. CEO Vlad Tenev expressed optimism about navigating the evolving regulatory landscape, while CFO Jason Warnick remained confident in the company's resilience against potential economic downturns.
Source: YAHOO