Robinhood posts record quarter, but crypto revenue slides 38%
Robinhood reported record second-quarter results, with revenue up 32% year over year to $1.31 billion and net income rising 48% to $573 million. Crypto transaction revenue, however, fell 38% to $100 million from about $160 million a year earlier. Total crypto trading volume reached $40 billion, including $18 billion on the Robinhood app and $22 billion from Bitstamp. The company expanded its digital asset business by launching the public mainnet of Robinhood Chain, offering tokenized U.S. stocks to eligible users in more than 120 countries, and introducing Robinhood Earn, its first decentralized lending product. It also completed its acquisition of WonderFi, plans to expand crypto services in the U.K., and said nearly 100,000 accounts are enrolled in Agentic Trading with more than $100 million in assets under custody. Shares were down 3.15% ahead of earnings.
