Morning Minute: Robinhood Misses, But Crypto Beats and Robinhood Chain Soars
Summary
Robinhood reported record quarterly revenue of $1.42 billion, slightly below expectations, while EPS also missed. Crypto revenue rose 20% sequentially to $120 million but remained well below a year earlier. Event-contract revenue reached $173 million, with 16.4 billion contracts traded. On the earnings call, CEO Vlad Tenev said Robinhood Chain’s growth since its July 1 launch exceeded forecasts and promised increased investment. He highlighted programmable tokenized stocks and possible tokenized options, positioning the chain as infrastructure for third-party products. The commentary and Robinhood Crypto’s support for ecosystem projects helped lift several related tokens.
