Robinhood beats quarterly profit estimates as trading activity remains robust

July 29 : Robinhood Markets beat Wall Street estimates for second-quarter profit on Wednesday, as robust trading in equities, options and prediction markets helped offset weakness in cryptocurrency trading.Retail trading remained robust during the quarter as heightened market volatility, driven in part by the U.S.-Iran conflict and its impact on inflation expectations and the Federal Reserve's interest-rate outlook, kept investors active.The online brokerage's transaction-based revenue rose 44 per cent to $776 million, driven by strength in equities, options and event contracts, which contributed $156 million in revenue. Net interest revenue increased 9 per cent to $389 million, supported by growth in interest-earning assets. "The takeaway from the quarter is businesses (are) humming, firi