-3.34%
Robinhood (NASDAQ:HOOD) released its second-quarter results, achieving profitability for the first time since becoming a public company, despite a drop in revenue in the second quarter of 2023.
According to its quarterly report released on Aug. 2, Robinhood’s revenue from cryptocurrency transactions shrank by 18% to $31 million. Other transaction-based revenues dropped as well, including options, which decreased 5% to $127 million, and equities, which declined 7% to $25 million. Over the past year, its revenue has decreased by 4% from $202 million in June last year to $193 million.
Robinhood’s Q2 2023 results. Source: Robinhood
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