00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Robinhood reported second quarter earnings in revenue that beat Wall Street estimates,
00:06according to Benzinga. The trading platform reported earnings of $0.62 per share and revenue
00:12of $1.31 billion, beating estimates as revenue rose from $989 million a year earlier.
00:19Transaction-based revenue climbed 44% year-over-year, led by a more than tenfold
00:24increase in event contracts revenue, alongside gains in options and equities trading. The gains
00:29were slightly offset by declines in cryptocurrency revenue. The company also reported growth in
00:34funded customers, investment accounts, platform assets, and Robinhood gold subscribers.
00:39CEO Vlad Tenev said the company's product strategy remains focused on expanding ownership opportunities.
00:46Shares were up by 0.78% in Thursday's pre-market trading, according to data from Benzinga Pro.
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