Robinhood's Q2 revenue expected to soar due to meme stock and crypto trading.

From Investing.com: 2024-08-06 06:30:56

Wall Street anticipates Robinhood’s revenue to reach record highs in Q2, as retail investors flock to its app for meme stocks and cryptocurrencies. Equity trading volumes surged 82% in April and 76% in May compared to last year. Analysts predict a 32% revenue increase to $643.34 million, with EPS at 15 cents. Six brokerages rate the stock “buy”. The company’s popularity surged during the 2021 retail trading saga and is set to report results after markets close on Wednesday.



Read more at Investing.com: Robinhood’s second quarter to benefit from meme stock revival, crypto trading By Reuters