Robinhood’s Crypto Trading Revenue Plunges 38%

Currently trading astatine $64,800 U.S., Bitcoin's terms has been chopped astir successful fractional from an all-time precocious of $126,000 U.S. reached past October. 

However, contempt the slump successful crypto trading, Robinhood's fiscal results inactive managed to bushed Wall Street forecasts connected the apical and bottommost lines. 

Robinhood reported net per stock (EPS) of $0.62 U.S., which was good up of analysts' statement forecast of $0.43 U.S. 

Revenue successful the play reached a grounds $1.31 cardinal U.S., topping the $1.29 cardinal U.S. forecast connected Wall Street. Sales were up 32% from a twelvemonth earlier. 

Management said that the latest fiscal results got a boost from respective caller products launched during Q2, including caller options trading features and a prediction market.

The prediction market, which was launched successful clip for the World Cup shot tourney that started successful June, provided a important boost to Robinhood's fiscal results.

HOOD banal is up 2% pursuing the company's latest net print. Over the past 12 months, the stock terms has declined 15% to commercialized astatine $92.02 U.S. per share.