Robinhood's results for the 2nd quarter exceeded expectations due to revival of popularity of meme stocks
8/8/2024 8:09 AM GMT+9
Both revenue and profit exceeded market expectations for the 2nd quarter financial results announced by the internet securities company Robinhood Markets (HOOD.O) on the 7th.
Active transactions of “meme stocks” and crypto assets (virtual currency), which are rapidly gaining attention through information exchange between individual investors, have become a tailwind.
The income was 682 million dollars, and the profit per share was 0.21 dollars. Market forecasts based on LSEG data were 643.34 million dollars and 0.15 dollars.
Keith Gill, who sparked the popularity of meme stocks, has resumed posting on social media, and interest in Game Stop (GME.N), which is a representative brand, has been rekindled. The crypto asset market was booming because the U.S. Securities and Exchange Commission (SEC) approved Bitcoin and Ether spot exchange-traded funds (ETFs).
Active transactions of “meme stocks” and crypto assets (virtual currency), which are rapidly gaining attention through information exchange between individual investors, have become a tailwind.
The income was 682 million dollars, and the profit per share was 0.21 dollars. Market forecasts based on LSEG data were 643.34 million dollars and 0.15 dollars.
Keith Gill, who sparked the popularity of meme stocks, has resumed posting on social media, and interest in Game Stop (GME.N), which is a representative brand, has been rekindled. The crypto asset market was booming because the U.S. Securities and Exchange Commission (SEC) approved Bitcoin and Ether spot exchange-traded funds (ETFs).
Against this backdrop, Robinhood's income based on asset trading increased by 69% and reached 327 million dollars.
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