{"id":22671,"date":"2023-08-02T21:38:28","date_gmt":"2023-08-02T21:38:28","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/robinhood-reports-an-18-decline-in-its-q2-crypto-trading-revenue\/"},"modified":"2023-08-02T21:38:28","modified_gmt":"2023-08-02T21:38:28","slug":"robinhood-reports-an-18-decline-in-its-q2-crypto-trading-revenue","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/robinhood-reports-an-18-decline-in-its-q2-crypto-trading-revenue\/","title":{"rendered":"Robinhood reports an 18% decline in its Q2 crypto trading revenue"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/128211051_m_normal_none-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/128211051_m_normal_none-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/128211051_m_normal_none-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/128211051_m_normal_none-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Robinhood Markets reported its Q2 financial results on Wednesday.<\/li>\n<li>Mizuho analyst Dan Dolev sees upside in \u201cHOOD\u201d to $14 per share.<\/li>\n<li>Robinhood stock lost roughly 8.0% in after-hours trading today.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/coinjournal.net\/news\/tag\/robinhood\/\">Robinhood Markets Inc<\/a> says it swung to a profit in its fiscal second quarter. Shares still lost about 8.0% in after-hours trading.<\/p>\n<h2>A quick overview of Robinhood\u2019s second quarter<\/h2>\n<p>The sell-off in extended hours isn\u2019t entirely unjustified. There sure were pockets of weakness in its quarterly performance.<\/p>\n<p>For one, the online trading platform brought in $31 million from crypto trading in its recently concluded quarter. That was down 18% sequentially. Crypto trading made up 16% of its total revenue in Q2.<\/p>\n<p>Still, Mizuho analyst Dan Dolev sees upside to $14 a share in Robinhood. Explaining why, he said on CNBC\u2019s \u201c<a href=\"https:\/\/www.cnbc.com\/video\/2023\/08\/02\/mizuhos-dan-dolev-on-paypal-for-stock-to-work-branded-checkout-needs-to-grow-in-line-with-e-com.html\" target=\"_blank\" rel=\"noopener\">Closing Bell<\/a>\u201d:<\/p>\n<blockquote>\n<p>They\u2019re gaining share from Coinbase. We\u2019ve proved it in April and May in crypto. They\u2019re crushing it on options. Contract prices are coming down because VIX is coming down.<\/p>\n<\/blockquote>\n<h2>What else was noteworthy in Robinhood\u2019s Q2 results<\/h2>\n<p>Robinhood ended the quarter with $11.5 million worth of crypto under custody \u2013 roughly unchanged versus the prior quarter. Despite the after-hours sell-off, its shares are up more than 40% year-to-date.<\/p>\n<p>Overall, the financial technology company earned 3 cents a share in its second quarter on $486 million in revenue. Analysts, in comparison, had called for a cent of loss and $473 million of revenue.<\/p>\n<p>On the downside, though, Robinhood lost 1 million users in Q2, as per the <a href=\"https:\/\/mondovisione.com\/media-and-resources\/news\/robinhood-reports-second-quarter-2023-results-gaap-net-income-was-25-million\/\" target=\"_blank\" rel=\"noopener\">earnings press release<\/a>. Still, Mizuho\u2019s Dolev told CNBC today:<\/p>\n<blockquote>\n<p>Retirement is a big initiative. If they do well on retirement, if they give you a few data points on retirement, this is going to make the stock work really well.<\/p>\n<\/blockquote>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/robinhood-q2-crypto-trading-reveue-down-18\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Robinhood Markets reported its Q2 financial results on Wednesday. Mizuho analyst Dan Dolev sees upside in \u201cHOOD\u201d to $14 per share. Robinhood stock lost roughly 8.0% in after-hours trading today. Robinhood Markets Inc says it swung to a profit in its fiscal second [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":22672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22671"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22671"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22672"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}