Robinhood Q2 Revenue Surges 45% on Crypto Trading Boom
Robinhood's second-quarter earnings reveal a 45% revenue jump to $989 million, powered by resurgent crypto trading activity. The fintech firm's cryptocurrency segment nearly doubled year-over-year to $160 million, narrowly missing a sixth consecutive quarter of triple-digit growth.
Net income reached $386 million, surpassing analyst expectations and sending shares up 3% in after-hours trading. The results underscore crypto's enduring role in Robinhood's business model despite cooling from peak growth rates.
June saw the platform expand its blockchain offerings with tokenized equities across 30 markets, enabling round-the-clock fractional trading of U.S. stocks. This strategic MOVE capitalizes on growing demand for blockchain-based financial instruments.
