Robinhood Crypto Revenue Falls but Exceeds Forecasts

Robinhood Markets reported strong overall results in the second quarter, despite a significant decline in crypto revenue. The company's total revenue grew by 32% to $1.31 billion, while diluted earnings per share rose by 48% to $0.62.

The crypto segment saw a 25% year-over-year decline in revenue, falling to $100 million. However, this figure exceeded analysts' consensus forecast of $86.6 million.

Transaction revenues provided the strongest support for quarterly results, growing by 44% to $776 million. Options and event contracts also showed notable gains, with event contracts bringing in $156 million, more than 10 times last year's level.