Robinhood turns worthwhile in Q2, however crypto income declines

Robinhood (NASDAQ:) launched its second-quarter outcomes, reaching profitability for the primary time since changing into a public firm, regardless of a drop in income within the second quarter of 2023.

In line with its quarterly report launched on Aug. 2, Robinhood’s income from cryptocurrency transactions shrank by 18% to $31 million. Different transaction-based revenues dropped as nicely, together with choices, which decreased 5% to $127 million, and equities, which declined 7% to $25 million. Over the previous yr, its income has decreased by 4% from $202 million in June final yr to $193 million.

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