Summary
- Robinhood reported an impressive second-quarter revenue of $1.31 billion, a 32% increase year-over-year, surpassing Wall Street's expectations of $1.26 billion.
- While crypto revenue decreased by 38% year-over-year to $100 million, event contracts—bets on real-world outcomes—soared over tenfold to $156 million, marking the fastest growth for the company.
- The firm is expanding its Robinhood Chain with features like tokenized stocks and decentralized lending, along with plans for new international crypto offerings.
On Wednesday, Robinhood disclosed its financial results for the second quarter, announcing a record revenue of $1.31 billion, reflecting a 32% year-over-year growth and beating the anticipated $1.26 billion by Wall Street. Despite a downturn in crypto trading revenue and volumes, the company is venturing into prediction markets and enhancing its crypto products, including Robinhood Chain.
The company reported a net income of $573 million, or $0.62 per share, compared to $386 million and $0.42 per share from the same period last year. Platform assets grew from $307 billion to $369 billion, with quarterly net deposits rising from $17.7 billion to $21.7 billion, and Robinhood Gold subscribers increasing from 4.3 million to 4.8 million.
CEO Vlad Tenev celebrated the achievement, stating on X, "We hit all-time highs in trading volumes across equities, options, and prediction markets."
Robinhood Markets has just released financial results for the second quarter of 2026. pic.twitter.com/q5Q9ovVf8C
— Robinhood (@RobinhoodApp) July 29, 2026
Transaction-based revenues saw a 44% increase to $776 million, driven by a shift in revenue sources. Event contracts, which allow users to trade on real-world outcomes such as Federal Reserve decisions and FIFA World Cup games, contributed $156 million, up more than tenfold from last year. Options trading generated $342 million, a 29% rise, while equities brought in $129 million, marking a 95% increase.
In stark contrast, Robinhood's crypto revenue fell to $100 million, a 38% decline from the $160 million reported in Q2 2025. This decline was evident earlier in the year, as shares dropped 6% due to a 34% quarterly decrease in crypto revenue. The total notional trading volume for crypto was $40 billion in the quarter: $18 billion on Robinhood's app (down 35% year-over-year) and $22 billion through Bitstamp, the crypto exchange acquired last year. Trading volumes for crypto fell from $66 billion in Q1 to $40 billion in Q2.
Despite the decline, Robinhood remains committed to its crypto initiatives and is focusing on its own chain. The company announced the launch of the public mainnet for Robinhood Chain and Stock Tokens, accessible to eligible users in over 120 countries via Robinhood Wallet.
According to Tenev, "The Robinhood Chain, which launched a few weeks ago as the first chain designed for real-world assets, has achieved over $12 billion in index volume since its inception." He expressed enthusiasm for the rapid growth and developer engagement with the chain, stating, "plenty more to come."
Earlier this year, Robinhood introduced the public testnet for Robinhood Chain, characterizing it as an Ethereum layer-2 network for tokenized real-world assets. The public mainnet was launched on July 1, enabling tokenized stocks, ETFs, decentralized finance applications, and other Ethereum-compatible services. Similar to other Ethereum L2s, the goal is to create a secondary blockchain that operates faster and more cost-effectively while settling on Ethereum's main network. As reported last Sunday, the chain was processing over $600 million in daily decentralized exchange volume and recorded 138 million transactions within its first month. The volume for tokenized stocks surged from $5 million to $60 million daily in under two weeks.
Two new products were highlighted during the earnings call. "I want to emphasize two new launches: Rothera, our new prediction markets exchange in collaboration with Susquehanna International Group, and the first version of agentic trading with equities, options, and soon crypto on Robinhood available for your AI agents," Tenev stated.
Rothera, a CFTC-licensed prediction markets exchange, has processed over 3.5 billion contracts since its launch in late May. Agentic trading, which allows software to execute trades automatically on behalf of users without manual input, was introduced on May 27 and has nearly 100,000 accounts already.
Net deposits reached an all-time high of $21.7 billion, with Gold subscribers reaching a record 4.8 million. The Gold Card surpassed 1 million cardholders, boasting an annualized purchase volume of $17 billion. Thirteen of Robinhood's business lines now generate over $100 million each year.