Robinhood delivered its strongest quarterly results on record in the second quarter, but the growth did not come from crypto. Cryptocurrency transaction revenue fell 38% year over year to $10
Robinhood delivered its strongest quarterly results on record in the second quarter, but the growth did not come from crypto. Cryptocurrency transaction revenue fell 38% year over year to $100 million, the second consecutive quarter of steep decline, while a business the brokerage launched far more recently quietly overtook it.
According to the company’s earnings report, released on Wednesday after the market closed, total revenue climbed 32% year over year to $1.31 billion while net income jumped 48% to $573 million. Diluted earnings came in at $0.62 per share against a consensus estimate of roughly $0.42.
