Robinhood's stock took a hit in after-hours trading even though the company reported impressive numbers for the second quarter. Revenue jumped 32% year-over-year, reaching $1.31 billion, driven by record trading volumes across its platform.
Net income showed an even more significant rise, climbing 48% to $573 million. Diluted earnings per share rose to $0.62, reflecting improved profitability. Despite these gains, the crypto segment saw a 38% decline in revenue, contrasting with strong performances in options and equities trading.
The platform's assets under management expanded to $369 billion, indicating continued growth in user engagement. The drop in crypto revenue aligns with broader market challenges in digital assets, while Robinhood’s focus on other trading products appears to sustain its overall financial momentum.
