Key facts
- Robinhood's revenue of $1.42 billion missed expectations of $1.43 billion.
- Robinhood's EPS of $0.51 missed expectations of $0.55.
- Crypto revenue increased to $120 million, up 20% from the previous quarter.
- Event contracts revenue grew to $173 million.
- Robinhood Chain leaders Pons, AI, and Orbio saw significant price surges.
Robinhood reported its second-quarter earnings, missing analyst expectations for both revenue and earnings per share. Revenue stood at $1.42 billion, slightly below the $1.43 billion forecast, and EPS came in at $0.51 against an expected $0.55. Despite the miss, the company's cryptocurrency revenue saw a sequential increase to $120 million. Event contracts also showed strong growth, contributing $173 million in revenue. During the earnings call, CEO Vlad Tenev expressed surprise at the rapid growth of Robinhood Chain, which launched in July and has quickly surpassed Ethereum and Base in fee generation. The company plans to significantly increase investment in the chain, signaling a strategic shift towards treating tokenized equities as a foundational primitive for developers.