Robinhood winst: Doge is Van de Crypto-inkomsten platform at 62 %

2 of 2021. the quarter looks like a strong quarter for Robinhood. On Wednesday, the company reported a profit of $ 565 million, up 131% from the second quarter of 2020. Interestingly, crypto accounted for 50% of the trading-based platform’s total revenue.

Robinhood noted that its customers have massively approved of cryptography, with 62% of the total cryptocurrency coming from the meme Dogecoin (DOGE) coin.

Crypto revenues exceed $ 233m
When the company went public recently, experts capitalized stocks of “online gambling” and warned investors to be very careful while trading is not something else than they suggested. However, the company has successfully proved the assumptions wrong due to a stronger-than-expected first-quarter earnings report as a registered company.

“It’s nothing like me-calling$Hood a meme,” CFO Jason Warnick tells @ Kr00ney @Robinhodapp. “We have 22.5 million customers, a record quarter of $ 565 million, and I think we have a really strong unit economy at the heart of our business.”pic.twitter.com/Kxh124eXKp

– Scream box (@SquawkCNBC) August 19, 2021

 

Robinhood noted that the highly unstable crypto sector has played a crucial role in boosting the platform’s overall sales, as its customers have mainly been using digital assets over the past year. Cryptocurrency revenue is expected to rise to the 2nd quarter of 2020. capped at $ 5 million in the quarter, it will be the 2nd of 2021. it rose nearly 500% to $ 233 million in the quarter. 

In addition, transaction revenues are expected to be October 2 of 2020.it rose to $ 451 million from $ 187 million in the quarter. The options are also listed in the 2nd edition of 2020. it rose 48% to $ 165 million from $ 111 million in the quarter. However, despite all the positive results, revenue from stock transactions fell 26% in the quarter to $ 52 million from $ 71 million in the second quarter of 2020.

Although the company has no clear information for the coming quarter, Robinhood Chief Financial Officer Jason Warnick hinted that autumn may not be very profitable compared to winter or summer

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