Robinhood Reports Record Revenue Despite Crypto Income Decline

Robinhood Markets Inc. reported record second-quarter revenue of $1.31 billion and adjusted earnings of $0.62 per share, exceeding Wall Street expectations. Despite the overall growth, the company's stock fell approximately 4% in extended trading. This decline followed a 38% year-over-year drop in cryptocurrency revenue, which fell to $100 million and missed consensus estimates by $25 million.

For the first time, transaction revenue from event-based contracts surpassed crypto revenue, reaching $156 million. Growth in options, equities, and prediction markets helped offset the losses in digital assets. The company's stablecoin, Robinhood Earn, also attracted $200 million in customer deposits.

To diversify its offerings, the brokerage launched the Robinhood Chain, a layer-2 Ethereum solution enabling 24/7 tokenized U.S. stock trading in more than 120 countries. The company also introduced Agentic Trading, a suite of AI tools for automated investing. CEO Vlad Tenev stated that the company is monitoring the U.S. Senate's pending Clarity Act and the U.S. Strategic Bitcoin Reserve established by President Donald Trump.