🟢 **Robinhood’s Q2 Earnings Report: Crypto Trading Revenue Down 18%** 📉
Exciting news from the latest **Q2 2023 earnings report of Robinhood (HOOD)!** 🎉 The popular online trading platform, famous for its crypto-friendly vibe, shared that **crypto trading revenue dipped to $31 million**, marking an 18% decrease from the previous quarter’s $38 million.
**But hey, here’s the silver lining – Robinhood clocked profitability for the first time since its IPO! 🌟**
**In Q2, crypto trading revenue contributed $31 million**, making up 16% of the overall $193 million trading revenue. Even though there was a 7% drop across all categories, including crypto.
**Not just crypto, Robinhood saw declines in other revenues too:** options revenue fell by 5% to $127 million, and equities revenue dropped by 7% to $25 million.
**Over the past year, Robinhood’s income decreased by 4%** – from $202 million to $193 million. 📉
**Amid a whirlwind in the crypto market, affected by events like Terra and FTX’s collapse and regulatory challenges**, the decline in crypto trading revenue comes as no surprise. 🌐
Stay tuned for more updates and analysis on the crypto world! 💫🚀