Robinhood Earnings: Prediction Markets to Offset Crypto Slump?

Robinhood is set to report its second-quarter earnings after market close today. Analysts expect the trading platform to bounce back from a disappointing first quarter, with predictions of $1.26 billion in revenue and $0.42 per share in earnings.

The company has been diversifying into consumer finance, including a new premium credit card and plans to sell up to $500 million in asset-backed securities.

Investors are watching the performance of Robinhood's booming prediction markets business, which posted record trading volumes in June. However, cryptocurrency trading remains a key variable, with subdued volumes expected for the second half.