Key Points
-
Robinhood’s revenue from cryptocurrency transactions declined by 47% last quarter.
-
The company generated significant growth from event contracts, but that only helped to offset some of the decline in crypto-related revenue.
Shares of Robinhood Markets (NASDAQ: HOOD) fell after the company released its latest quarterly numbers last week. Its results fell short of analyst expectations, and a big reason for that was lighter crypto trading. Robinhood’s platform can be used for stock trading, crypto trading, and making bets on prediction markets.
While the business has generated strong growth in recent years, the excitement (or lack of it) in the crypto markets can play a big role in its performance. The big question for growth…
