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Robinhood posts 6% sequential increase in 2nd qtr revenue

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Aug 2 (Reuters) - Robinhood Markets Inc posted a 6% sequential increase in second quarter revenue despite a market sell-off in equities and cryptocurrencies.

Robinhood announced last quarter that it was changing the way it provided revenue projections by providing “certain limited purpose statistical and operational results on a monthly basis.”

The Menlo Park, California-based company also announced it is cutting approximately 23% of its workforce. (Reporting by Hannah Lang in Washington)