Daily Market Updates: Robinhood revenue hits record levels as customers trade more amid volatility

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Robinhood revenue hits record levels as customers trade more amid volatility

MarketWatch reports Robinhood said prediction-market revenues increased tenfold in the second quarter.

Reported · Written up by our desk · Fund Industry

Robinhood said its second-quarter results topped expectations, with the brokerage platform reaching record revenue levels as customers leaned into trading during market volatility, according to MarketWatch.

The outlet reported that prediction-market revenues on the app increased tenfold during the quarter.

MarketWatch also noted that traders on Robinhood overcame uncertainty around cryptocurrency and technology stocks, placing larger bets on events including the World Cup.

Robinhood CFO Shiv Verma told MarketWatch that many customers were net buyers and that they viewed volatility as an opportunity to buy more, tying the stronger activity to beliefs in technology and innovation.

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Sources

MarketWatchRobinhood puts up record revenue as volatility drives a trading bonanza

ETFs & Funds

Robinhood revenue hits record levels as customers trade more amid volatility

More like this

Sources

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