Financial Breakfast

ROBINHOOD REVEALS $565 MILLION IN Q2 REVENUE AND $502 MILLION QUARTERLY LOSS

In its first regulatory filing since the companys initial public offering, Robinhood revealed a $502 million second-quarter loss, or $2.16 per share. The net loss came despite a massive growth in revenues fueled by frenzied cryptocurrency trading and all-time market highs during the pandemic. The no-commission platform reported revenue of $565 million in the second quarter, more than 131% above sales or $244 million pulled in the same period last year. Transaction-based revenues increased to $451 million in the second quarter of 2021, up 141% compared with $187 million in Q2 2020. Out of this figure, cryptocurrencies trading generated $233 million in revenues compared to only $5 million in the second quarter of 2020. Despite the stunning growth in Q2 revenues, the company warned its investors of a slowdown in trading activity that could hit revenues in the third quarter.

ETORO SPONSORS PROMINENT BUNDESLIGA CLUB RB LEIPZIG

eToro will take advantage of advertising opportunities across the club‘s various communications channels as well as engaging with both the club’s supporters and sponsors. Specifically, the broker will have its logo, branding, and corporate colours displayed at Leipzigs Red Bull Stadium, where the club plays its home matches. The full financial terms were not officially disclosed, but the two-year deal runs from the current 2021/2022 session. Part of its sponsorship package, eToro will launch a “unique and authentic content piece” on trading the financial markets. The tutorials will seek to inform RB Leipzig fans about investment opportunities across stocks, EFTs and cryptocurrency markets. Also included in the agreement that runs until the end of the 2022-22 season are hospitality services, social media visibility and logo and name usage rights.

FBS SIGNS WITH LEICESTER CITY AS PRINCIPAL PARTNER

FBS has announced a sponsorship deal with Leicester City Football Club following the ceremonial signing of a three-year partnership agreement between FBS‘ CEO Yulia Ivanova and Leicester City’s CEO Susan Whelan.The strength of Leicester Citys story will be harnessed to showcase the power of the FBS brand within the retail trading space. Leicester City Football Club has won the FA Cup and Community Shield in 2021 and FBS won the Best Mobile Trading Platform Europe 2021 at the Global Banking & Finance Awards.Yulia Ivanova, FBS Chief Executive Officer, said: We are delighted and very proud to become a principal partner of Leicester City Football Club. Leicester City is a very talented and ambitious team, as we are.

Stay tuned!