Robinhood Revenue Surges on Event Contracts Despite Crypto Decline
Royalty-free financial trading platform Robinhood Markets reported record revenue in its second quarter, despite a decline in cryptocurrency trading.
The company's Q2 revenue rose 32% to $1.31 billion, with net income climbing 48% to $573 million.
Event contract revenue reached $156 million, more than ten times the year-earlier level and overtaking cryptocurrency transaction revenue for the first time.