{"id":141052,"date":"2024-10-31T15:30:40","date_gmt":"2024-10-31T13:30:40","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=141052"},"modified":"2024-10-31T14:06:04","modified_gmt":"2024-10-31T12:06:04","slug":"robinhood-faces-share-drop-despite-surge-in-crypto-trading-volumes-and-yearly-growth","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/robinhood-faces-share-drop-despite-surge-in-crypto-trading-volumes-and-yearly-growth\/","title":{"rendered":"Robinhood Faces Share Drop Despite Surge in Crypto Trading Volumes and Yearly Growth"},"content":{"rendered":"

Despite this, the company reported significant growth in cryptocurrency trading, with volume increasing 112% year-on-year to $14.4 billion and revenue rising 165% to $61 million, contributing to a return to profitability.<\/p>\n

The firm showed<\/a> <\/strong>a net income of $150 million and revenue of $637 million, falling short of industry estimates, which led to the stock decline. Robinhood\u2019s earnings per share of $0.17 missed the expected $0.18, and revenue was 3.6% below forecasts.<\/p>\n

Robinhood\u2019s CFO expressed satisfaction with the company\u2019s performance this year, highlighting that the last three quarters have been the most profitable in its history. However, crypto trading volume decreased from $36 billion in Q1 and $21 billion in Q2.<\/p>\n