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Robinhood Q2 revenue hits record as prediction markets surge

Event contracts generated $156 million in Q2, rising more than 10x year over year, while crypto revenue fell 38% to $100 million.

Reported · Written up by our desk · Market Structure

Robinhood reported record second-quarter revenue of $1.31 billion, up 32% year over year and ahead of Wall Street expectations of $1.26 billion, according to Decrypt. The company said the revenue mix shifted as event contracts from its prediction markets surged to $156 million, up more than 10x year over year, becoming Robinhood’s fastest-growing revenue line. In the quarter, options revenue rose 29% year over year to $342 million, and equities revenue increased 95% year over year to $129 million.

Robinhood’s crypto results declined alongside the growth in prediction markets. Crypto revenue fell 38% year over year to $100 million, and total crypto notional trading volume dropped to $40 billion in Q2, down from $66 billion in Q1, reflecting lower activity on both Robinhood’s app and Bitstamp. Robinhood also reported net income of $573 million, or $0.62 per share, compared with $386 million, or $0.42 per share, a year earlier. The company cited platform assets rising to $369 billion from $307 billion, quarterly net deposits increasing to $21.7 billion from $17.7 billion, and Robinhood Gold subscribers climbing to 4.8 million from 4.3 million, while expanding Robinhood Chain, including tokenized stocks, decentralized lending, and plans for additional international crypto offerings.

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