Robinhood's Q2 crypto trading revenue fell 18% from the previous quarter to $31 million

Binance News · 2023-08-03T01:30:20.000Z

According to Robinhood’s 2023 Q2 financial report, crypto trading revenue in the quarter was $31 million, down 18% from the first quarter ($38 million), in part due to a 6% decline in the number of customers making transactions, and the number of customers per trader. Nominal trading volume fell by 15%. Crypto trading revenue of $31 million accounted for 16% of the $193 million in trading revenue across all categories, down 7% sequentially. The company has $11.5 million in crypto assets under custody, the same amount it held at the end of the first quarter. Robinhood's Q2 profit increased to $25 million, achieving GAAP profitability as a public company. Overall, Robinhood earned $0.03 per share in the second quarter on revenue of $486 million, up 10% from the first quarter and higher than analysts' expectations for a loss of $0.01 per share on revenue of $473 million.

According to Robinhood's Q2 2023 financial report, crypto trading revenue this quarter was US$31 million, down 18% from the first quarter ($38 million), partly due to a 6% drop in the number of customers conducting transactions and a 15% drop in the nominal trading volume per trader.
Crypto trading revenue of $31 million accounted for 16% of the $193 million in trading revenue across all categories and was down 7% from the previous quarter. The company’s crypto assets under custody were valued at $11.5 million, the same amount held at the end of the first quarter.
Robinhood Q2 profit increased to $25 million, achieving GAAP profitability as a public company. Overall, Robinhood's second-quarter earnings were $0.03 per share on revenue of $486 million, up 10% from the first quarter and better than analysts' expectations of a loss of $0.01 per share on revenue of $473 million.