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Robinhood delivered a standout second quarter, beating Wall Street forecasts with earnings of 42 cents per share on revenue of $989 million. Revenue jumped 45% year-over-year, while net income more than doubled to $386 million. Customer growth remained strong, with funded accounts rising to 26.5 million and total assets soaring 99% to $279 billion, fueled by rising crypto and equity valuations.
Crypto trading revenue reached $160 million, slightly below forecasts but still driving momentum alongside strong derivatives trading. Transaction-based revenue hit $539 million, while net interest income surged to $357 million, well ahead of estimates. Robinhood Gold subscriptions climbed 76% year-over-year, reaching 3.5 million users, highlighting growing user engagement.
Robinhood is ramping up its push into crypto wealth and prediction markets, with nearly $2 billion in contract volume. CEO Vlad Tenev announced the upcoming launch of Robinhood Banking and hinted at expanding tokenized assets. Despite a brief dip on cost concerns, shares remain up over 180% this year.