Robinhood Q2 crypto trading revenue down 18% to $31 million

Odaily Planet Daily News According to the 2023 Q2 financial report released by Robinhood, encryption trading revenue for this quarter was US$31 million, an 18% decrease from the first quarter (US$38 million), partly due to a 6% decline in the number of customers conducting transactions, and Notional volume per trader fell by 15%. The $31 million in crypto trading revenue accounted for 16% of the $193 million in trading revenue across all categories, down 7% quarter-over-quarter. The company held $11.5 million in crypto assets under custody, the same amount it held at the end of the first quarter. Robinhood Q2 profit increased to $25 million, GAAP earnings as a public company. Overall, Robinhood earned $0.03 per share on revenue of $486 million in the second quarter, up 10% from the first quarter and beating analysts' expectations for a loss of $0.01 per share on revenue of $473 million.