Robinhood Q2 Revenue Hits Record $1.31B as Crypto Revenue Falls 38% YoY

Robinhood reported record second-quarter net revenue of $1.31 billion, up 32% from a year earlier, while net income increased 48% to $573 million. Diluted earnings per share (EPS) rose to $0.62. 

Transaction-based revenue climbed 44% YoY to $776 million, supported by rapid growth in event contracts as well as higher options and equities trading. Revenue from event contracts reached $156 million, increasing by more than tenfold from the same period last year. 

Revenue from cryptocurrency trading declined 38% YoY to $100 million during the quarter.

The company also recorded $21.7 billion in net deposits, the highest quarterly total in its history.

Source: Robinhood