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Robinhood reported stronger-than-expected second-quarter earnings as growth in prediction markets, options and stock trading helped balance a sharp drop in crypto revenue. Adjusted earnings came in at $0.48 per share, beating analysts’ estimate of $0.44. Total revenue rose 32% from a year earlier to a record $1.31 billion.
Transaction-based revenue increased 44% to $776 million. Event contracts generated $156 million, more than ten times the amount recorded a year earlier. Crypto transaction revenue fell 38% to $100 million.
Prediction Markets Become a Key Source of Revenue
Robinhood customers traded a record 13.6 billion event contracts during the quarter, more than ten times the previous year’s total. The company offers contracts linked to sports, elections, economic data and other real-world events through its prediction market platform. Chief Financial Officer Shiv Verma said:
“The business is firing on all cylinders.”
He pointed to record activity across equities, options and newer products on the platform. Options revenue rose 29% to $342 million, while equity trading revenue increased 95% to $129 million. Those gains helped Robinhood reduce the effect of weaker crypto trading on its overall results.
Crypto Revenue Falls 38% to $100 Million
Robinhood’s crypto revenue dropped from $160 million a year earlier to $100 million in the latest quarter. Crypto trading through the Robinhood app also fell 35% from a year earlier to $18 billion. The company recorded another $22 billion in crypto trading through Bitstamp, which it acquired in 2025.
Lower crypto prices and weaker demand reduced trading activity during the quarter. Robinhood’s total platform assets still rose 32% to $369 billion, supported by customer deposits and higher stock valuations.
Customer Deposits and Gold Subscriptions Reach Records
Robinhood recorded $21.7 billion in net deposits during the quarter, its highest quarterly total. Funded customers increased 7% to 28.4 million, while Robinhood Gold subscribers rose 39% to a record 4.8 million.
Net income increased 48% to $573 million. The figure included a $129 million gain, mainly from removing Robinhood Ventures Fund I from the company’s consolidated accounts.
Operating expenses rose 33% to $734 million because of marketing, growth investments, staff cuts and spending on new products. Robinhood’s results show that growth in event contracts, options and equities helped soften the effect of weaker crypto trading revenue during the quarter.
