Robinhood set to report highest quarterly revenue since meme stock frenzy

FILE PHOTO: Robinhood logo and representations of cryptocurrency are seen in this illustration taken December 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Trading app Robinhood Markets is expected to report its highest quarterly revenue in nearly three years, helped by a steady rebound in equity markets and crypto trading.

Bets on global interest rate cuts sent U.S. stocks and bitcoin to record highs earlier this year and attracted traders back to markets, helping the retail investor-focused brokerage earn more transaction-based revenue.