Key facts
- Robinhood reported record Q2 revenue of $1.31 billion, up 32% year-over-year, exceeding analyst estimates.
- Diluted earnings per share rose 48% to $0.62 from $0.42 in the same period last year.
- Crypto trading revenue fell 38% to $100 million.
- Revenue from event contracts increased more than tenfold to $156 million.
- Total platform assets increased 32% to $369 billion.
- Funded customers rose 7% to 28.4 million, while Robinhood Gold subscribers climbed 39% to a record 4.8 million.
Robinhood reported record quarterly revenue of $1.31 billion for the second quarter, a 32% increase year-over-year, surpassing Wall Street's expectations. Despite the strong financial performance, the company's stock fell 4% in after-hours trading, following a 3.1% decline during the regular session. This dip was attributed to a significant cooling in its cryptocurrency revenue, which fell 38% year-over-year to $100 million.
The company's growth was largely driven by its expansion into new areas, particularly prediction markets and its proprietary blockchain, Robinhood Chain. Event contracts, which represent bets on real-world outcomes, generated $156 million in revenue, a more than tenfold increase. Transaction-based revenues overall rose 44% to $776 million, with options and equities also showing substantial growth.
Robinhood is actively developing its crypto ecosystem, having launched the public mainnet for Robinhood Chain, designed for tokenized real-world assets like stocks and ETFs. The company also introduced agentic trading, an AI-powered tool for automated investing. These initiatives contributed to record platform assets of $369 billion, record net deposits of $21.7 billion, and a record 4.8 million Robinhood Gold subscribers.
CEO Vlad Tenev expressed optimism about the company's product velocity and expansion into prediction markets and crypto products, including Robinhood Chain. He noted that thirteen of Robinhood's business lines now each generate over $100 million annually.