Robinhood Outperforms Q2 Estimates Amid Crypto Revenue Decline
Robinhood Markets Inc. delivered a robust second-quarter performance, eclipsing analyst projections with $989 million in revenue—a 45% year-over-year surge. The brokerage's earnings per share reached $0.42, translating to $386 million in profit, significantly above the anticipated $276.6 million. Shares rallied to $110 in after-hours trading, capping a 184% year-to-date ascent that outshines crypto rivals like Coinbase.
Crypto trading revenue dipped to $160 million, down 36% quarter-over-quarter despite a 98% annual increase. The decline coincided with heightened market volatility during former President Trump's trade war rhetoric. Robinhood's strategic embrace of regulatory clarity since its 2018 crypto rollout continues to shape its trajectory.
