Morning Minute: Robinhood Posts Its Best Quarter Ever
Robinhood posted its best quarter ever, with net revenue of $1.31 billion (+32% YoY), diluted EPS of $0.62, net income of $573 million, total platform assets of $369 billion, and record net deposits of about $21.7 billion. Event contracts became a major growth engine, reaching $156 million in revenue and surpassing crypto and equities. Crypto revenue fell 38% to $100 million, while options rose 29% and equities jumped 95%, driving results. Management said 13 business lines are now generating over $100 million annually. Robinhood Chain also showed strong early traction, with over $12 billion in DEX volume and about $325 million TVL. Despite the strong report, HOOD stock sold off, likely due more to broader market/FOMC concerns than earnings.
