Robinhood posts record second-quarter revenue as trading subscriptions deposits accelerate growth

Robinhood's Q2 earnings reached a record $1.31 billion, marking a 32% increase from the prior year and a 23% boost from the first quarter. Net income rose by 48% to $573 million, with diluted earnings per share reaching $0.62. A one-time gain of $129 million, primarily due to the deconsolidation of Robinhood Ventures Fund I, contributed to the profit.

CEO Vlad Tenev praised the company's "record revenues and driving new highs across equity, option, and event contract volumes." Transaction revenue surged 44% to $776 million, with options trading leading at $342 million. Equities revenue nearly doubled to $129 million, while event contracts generated a significant $156 million—ten times their previous year's performance.

Cryptocurrency trading, however, saw a 38% decline to $100 million. Net interest revenue grew 9% to $389 million, despite lower interest rates. Other revenue jumped 54% to $143 million, driven by Trump Account services and increased Robinhood Gold subscriptions. Customer deposits hit a record $21.7 billion, with total assets climbing 32% to $369 billion.

Operating expenses rose 33% to $734 million, but adjusted EBITDA increased 35% to $741 million, improving the margin to 57%. Robinhood expects adjusted operating expenses and share-based compensation of $2.675 billion to $2.775 billion for the year, slightly lower than previous guidance. The company remains focused on expanding its product offerings, with prediction markets highlighted as a fast-growing area, though its broader strategy remains subject to investor scrutiny.