Robinhood reported its strongest quarter ever, pulling in $1.31 billion in revenue and $573 million in net profit. The numbers reflect a 32% rise in net revenue and a 48% jump in profit compared to last year.
Transaction revenue surged by 44%, hitting $776 million, with options trading alone contributing $342 million, up 29%. Stock trading showed the biggest leap, almost doubling revenue to $129 million.
Despite the overall success, crypto trading revenue dropped sharply to $100 million, a 38% decline from the previous year. This follows a similar downturn in the first quarter, where crypto income fell 47% to $134 million. The decline is linked to lower digital asset prices and reduced customer activity.
Robinhood is expanding its crypto offerings and infrastructure, but these investments haven’t reversed the downward trend in crypto profitability yet. To offset this, the platform saw event-linked contracts multiply more than tenfold to $156 million and interest income rose 9% to $389 million.
