Crypto
Robinhood Surges Past Q2 Earnings Expectations Despite Crypto Slump
Roland Quittner, an expert in financial and crypto news writing, reports that Robinhood's HOOD stock fell below $90 despite the company's record Q2 revenue of $1.31B, up 32% year over year.
The company also reported a significant increase in equity, option, and event contract volumes, with prediction market revenue reaching $156M, topping both equity and crypto revenue during the quarter.
Crypto trading revenue declined by 38%, from $162M to $100M, while transaction-based revenue rose 44% year over year to $776 million. The weak crypto result came as Robinhood expanded other business lines, including Gold subscriptions and platform assets.