Robinhood’s Revenue Doubles in Q2 to $180M

According to a regulatory filing Robinhood’s second quarter revenue came in at $180 million, nearly double the $91 million it made in the first quarter; big trading firms pay Robinhood and other online brokerages for the right to execute their trades because it helps them earn profits by picking up pennies on each transaction; options provided by far the largest segment of trading revenue at $111 million; Robinhood’s growth is being driven by an overall increase in trading volumes across the industry as people have been sheltering in place; the company added three million funded accounts in the first four months of the year and their three most active trading days of all time came in June 2020. Forbes.