Robinhood Revenue Jumps 32%, Event Contracts Surpass Cryptocurrency Revenue

Robinhood reported record second-quarter revenue of $1.31 billion, up 32% year-over-year, driven by growth in event contracts, options, and equities.

The company's event contract revenue soared more than tenfold to $156 million, surpassing cryptocurrency transaction revenue for the first time.

Crypto revenue declined 38% to $100 million despite a reported quarterly trading volume of $40 billion. This represents a significant drop from last year's crypto revenue, but the company still maintains a strong presence in the digital-asset space with recent launches such as Robinhood Chain and its decentralized lending product.

Robinhood's net income increased 48% to $573 million, while diluted earnings per share reached $0.62. The company attributed the growth in revenue mix to various factors, including a 9% increase in net interest revenue and a 54% jump in other revenue.