Robinhood Crushes Earnings Expectations, Crypto Revenue Takes a Hit

Retail trading platform Robinhood crushed its Q2 earnings expectations, reporting diluted EPS of $0.62 and total net revenue of $1.31 billion.

This far exceeded consensus estimates, which had pegged EPS around $0.39 to $0.41 and revenue between $1.22 billion and $1.25 billion.

The company's transaction-based revenue jumped 44% year-over-year to $776 million, while event contracts and prediction markets generated a staggering $156 million in revenue, a tenfold increase from the same period last year.

However, crypto revenue told a different story, declining 38% year-over-year to $100 million.

CEO Vlad Tenev pointed out that Robinhood now operates across 13 business lines, each generating annualized revenues exceeding $100 million.