Robinhood reported record second-quarter revenue of $1.31 billion, up 32% from a year earlier, alongside record net deposits and a record 4.8 million Gold subscribers. Net deposits reached about $22 billion, total platform assets climbed 32% to $369 billion, and Gold subscribers grew 39% year over year. Crypto trading revenue fell 38% to $100 million, while event contracts revenue surged more than tenfold to $156 million, now exceeding crypto. The stock closed at $86.60, roughly 44% below its 52-week high of $153.86, and trades at about 38 times earnings.
Robinhood Markets IncRecord revenue, net deposits, and Gold subscribers beat expectations, driving positive sentiment despite crypto revenue decline.