Robinhood Reports Record Q2 Revenue of $1.31 Billion Driven by Trading Volumes
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
Robinhood has announced a record revenue of $1.31 billion for the second quarter, marking a 32% year-over-year increase and surpassing estimates of $1.29 billion. The surge in revenue was largely attributed to a tenfold increase in prediction-market revenues, which reached $156 million, despite a 38% decline in cryptocurrency revenue to $100 million.
The brokerage's strong performance in options and equities trading helped offset the downturn in crypto. While the overall earnings beat expectations, Robinhood's stock slid 4% as investors reacted to the cooling of crypto revenue, which has been a significant segment for the company in the past.
Sources
Every quote below is verbatim from the article it is attributed to.
“Prediction-market revenues on the popular trading app increased tenfold during the second quarter.”
MarketWatch — Robinhood puts up record revenue as volatility drives a trading bonanza“The post Robinhood Earnings Soar Above Views On Record Trading Volumes appeared first on Investor's Business Daily.”
IBD — Robinhood Earnings Soar Above Views On Record Trading Volumes“Bill Peters / MarketWatch: Robinhood reports Q2 revenue up 32% YoY to $1.31B, vs.”
techmeme — Robinhood reports Q2 revenue up 32% YoY to $1.31B, vs. $1.29B est., event contracts revenue up over 10x to $156M, and crypto revenue down 38% to $100M (Bill Peters/MarketWatch)“Robinhood posted a record $1.31 billion in revenue in Q2.”
decrypt — Robinhood Posts Best Quarter Ever as Prediction Market and Robinhood Chain Take Off“The brokerage reported $100 million revenue from crypto trading, a 38% decline in a year, offset by stronger options, equities and prediction markets activity.”
coindesk — Robinhood slides 4% despite earnings beat as crypto revenue cools
Earlier versions
- Jul 29, 8:43 PM — Robinhood Reports Record Revenue With Tenfold Increase In Prediction-Market Revenues (2/2)