Crypto
Home›Crypto›Market Structure›Crypto contributed about $2.25M to Webull’s record $19…
Crypto contributed about $2.25M to Webull’s record $198M Q2 revenue
Webull said crypto accounted for just over 1% of Q2 revenue, while equity and options trading generated $112M, about 56% of the total.
Webull reported record second-quarter revenue of $198 million, and the company said cryptocurrency trading contributed about $2.25 million, roughly a little over 1% of the quarter’s total. Cointelegraph reports that the brokerage also attributed most of its income to equity and options trading. According to the earnings release cited by Cointelegraph, equity and options trading generated $112 million of quarterly income, or about 56% of the $198 million total. Webull also said its Q2 revenue was up 51% year over year, with results slightly above Wall Street consensus of $194.5 million compiled by Yahoo Finance. On the crypto business outlook, Webull president and director Anthony Michael Denier said in an earnings call that he is seeing improving conditions in the crypto segment. Cointelegraph also notes that Webull is gradually rolling out crypto deposit and withdrawal capabilities. Cointelegraph adds that Robinhood posted record quarterly results in late July, but its crypto transaction revenue fell 38% to $100 million from about $160 million a year earlier. Webull shares rose 8.9% on Wednesday, and were up nearly 15% in pre-market activity on Thursday at $9.98 a share as of 10:37 am UTC.