Robinhood reported second-quarter revenue of $1.31 billion, a 32% year-over-year increase, and net income of $573 million, or $0.62 per share. More noteworthy than the record-high total revenue is the continued shift in its revenue streams, with growth focusing on a broader range of business lines rather than solely on crypto trading.
Event contract revenue grew the fastest
According to the disclosed data, trading-related revenue increased by 44% year-on-year to $776 million. Among them, event contract revenue reached $156 million, more than 10 times that of the same period last year. Options revenue increased by 29% year-on-year to $342 million, while stock revenue increased by 95% to $129 million.
Robinhood CEO Vlad Tenev stated that the company has achieved record trading volumes in stocks, options, and prediction markets. CFO Shiv Verma noted that Robinhood continues to reduce its reliance on any single business, and now has 13 business lines generating over $100 million in annualized revenue.
Crypto revenue falls back to $100 million
Company disclosures show that second-quarter revenue from its crypto business fell 38% year-over-year to $100 million, no longer the fastest-growing segment. Crypto transaction volume also declined from $66 billion in the first quarter to $40 billion in the second quarter.
Of these, Robinhood's in-app crypto transactions totaled $18 billion, while Bitstamp contributed $22 billion. Despite the decline in crypto revenue, the company has not scaled back its related initiatives and continues to advance its blockchain and on-chain financial products.
Continue to advance Layer 2 and tokenized stocks
Robinhood is pushing its Ethereum Layer 2 network, Robinhood Chain. According to the company, this chain already supports tokenized stocks, ETFs, the decentralized lending product Robinhood Earn, and stock token trading in more than 120 countries and regions.
The company states that Robinhood Chain has processed billions of dollars in transactions since its launch. In addition to its on-chain business, Robinhood also launched Rothera, a prediction market exchange regulated by the U.S. Commodity Futures Trading Commission, which has processed over 3.5 billion contracts to date.
Customer base and new business continue to expand
- Gold Card has served over 1 million customers.
- The card's annualized spending reached $17 billion.
- Robinhood Banking has over $3 billion in deposits.
In addition, the company stated that Trump Accounts has attracted over 7 million registered users with nearly $1.5 billion in deposits. Robinhood is also advancing its Agentic Trading program, planning to expand its AI-driven trading capabilities to stocks, options, and further cover crypto assets.
Robinhood expects full-year operating expenses to be lower than previously anticipated and will continue to expand its international business through the acquisition of WonderFi and obtaining further regulatory approvals in Singapore.
Additional information:The Robinhood Chain transaction volume, Trump Accounts registration data, and international expansion plans mentioned in this article are all from the company's disclosure for this quarter.
