Robinhood posts 6% sequential increase in 2nd quarter revenue
FILE PHOTO: The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly
Robinhood Markets Inc posted a 6 per cent sequential increase in second quarter revenue despite a market sell-off in equities and cryptocurrencies.
Robinhood announced last quarter that it was changing the way it provided revenue projections by providing “certain limited purpose statistical and operational results on a monthly basis.”
The Menlo Park, California-based company also announced it is cutting approximately 23 per cent of its workforce.
Source: Reuters
