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Robinhood reported net income of $25 million in the second quarter, according to the report. Other platform revenues, including gains from options and equity transactions, also declined.
That said, the stock did record an increase in the quarter, with earnings per share (EPS) reaching $0.03. In the first quarter, that figure was minus $0.57.
In June, Robinhood announced that cryptocurrency trading volumes on its platform fell 43% in May compared to April this year.
Recently, amid SEC lawsuits against cryptocurrency exchanges Binance and Coinbase, Robinhood announced its intention to delist three cryptocurrencies on its platform simultaneously. The company has discontinued support for Cardano (ADA), Polygon (MATIC) and Solana (SOL) effective June 27, 2023.