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Why Is Robinhood Stock Rising Today? Strong Trading Activity Helps Beat Earnings Despite Crypto Slowdown
['Abhay Maitreya']
ibtimes.sg : Top News
Prediction markets revenue records tenfold annual increase.
One-time accounting gain draws investor attentionAlthough Robinhood reported earnings of $0.62 per share, part of that figure reflected a one-time accounting gain.
That contributed to the stock's decline in after-hours trading despite the company's record revenue and earnings beat.
Strong growth across equities, options, subscriptions and prediction markets helped offset one of the sharpest declines in crypto revenue since digital asset trading surged during previous market cycles.
The results also suggest that Robinhood's revenue is becoming more balanced across multiple businesses.