Retail trading app Robinhood rises as Q2 results beat Wall Street estimates
** Shares of retail trading app Robinhood HOOD.O up ~3.6% at $17.73 premarket
** HOOD beat Wall Street expectations for second-quarter earnings after market on Wednesday, as interest in meme stocks and cryptocurrencies soared and said it continued to gain market share from rivals
** Co's transaction-based revenue surged 69% to $327 mln in the quarter driven by meme-stock influencer Keith Gill's return to social media and a broader crypto market rally
** HOOD posted record quarterly revenue of $682 mln, beating estimates of $643.34 mln, per LSEG data
** Profit of 21 cents/share also topped expectations of 15 cents/share
** "This quarter's performance was solid and exemplified the benefit of Robinhood's increasingly diverse revenue streams," J.P.Morgan analysts write in a note
** As of last close, HOOD up ~34.4% YTD vs an 8% gain in Nasdaq Composite Index .IXIC
Reporting by Manya Saini in Bengaluru
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