Robinhood Revenue Hits Record $1.31 Billion in Q2 Despite Crypto Slump

Robinhood's Q2 revenue hit a record $1.31 billion, up 32% year-over-year, driven by strong growth across equities, options, and event contracts.

The company reported net income of $573 million, a 48% increase from the same period last year, with diluted earnings per share rising to $0.62.

Transaction-based revenue was a key driver, increasing 44% to $776 million, while event contracts generated $156 million, more than 10 times the level recorded in Q2 2023.

Crypto revenue, however, declined 38% year-over-year to $100 million, marking Robinhood's weakest sector for the quarter.