Robinhood Earnings Report

Robinhood, the commission-free brokerage firm, reported second-quarter earnings Wednesday afternoon, highlighting significant year-on-year growth in both cryptocurrency transaction revenues and trading volume.

Key Financial Metrics

• Crypto Transaction Revenues: Increased to $81 million, a 161% increase from the same period last year. This revenue was double that of equity transactions this quarter.
• Options Revenue: The largest revenue stream, generating $327 million this quarter.
• Digital Asset Trading Volume: Rose to $21.5 billion, a 137% increase from 2023, despite a decline from $36 billion in the first quarter of this year.

Recent Acquisition

In June, Robinhood acquired the cryptocurrency trading platform Bitstamp, a globally-scaled crypto exchange with over 50 active licenses and customers across the EU, UK, US, and Asia. The impact of this acquisition remains unclear.

User Growth

Robinhood reported 11.8 million monthly active users, reflecting a 9% increase compared to June 2023.