Robinhood Posts Record Revenue and EPS Beat — But Crypto Drag Sends Stock Lower
Robinhood’s Q2 crypto revenue fell 38% to $100M and app volumes dropped 35% to $18B, even as the company beat estimates and prediction markets surged.
Robinhood’s Q2 crypto revenue fell 38% to $100M and app volumes dropped 35% to $18B, even as the company beat estimates and prediction markets surged.
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Analyst sees Robinhood becoming the first global brokerage hyperscaler with Europe and Asia expansion.
BTIG is bullish on Robinhood, seeing strong growth, young users, rising trading activity, and a $125 price target.
CEO Vlad Tenev says the move will disrupt Wall Street and give retail investors bigger access to hot IPOs like SpaceX.
Robinhood missed earnings estimates, sending shares down, despite growth in users, deposits, and assets and strong outlook for Q2.