Crypto trading boosts Robinhood's revenue in Q2, but company warns of muted Q3

Photo: Tech Daily / Unsplash

Robinhood Markets Inc said on Wednesday that lower trading activity was likely to affect its third quarter, after it reported a 131% jump in second-quarter revenue fueled in part by a surge in cryptocurrency trading.

Shares of Robinhood, owner of the trading app that emerged as the gateway for investors seeking to get in on this year’s mania for so-called meme stocks, were recently down 5.32% in aftermarket trading after the brokerage said the current quarter will also be affected by fewer funded accounts.

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