Robinhood Grows Q2 Event-Contracts Revenue 10-Fold to $156 Million as Shares Sit 43% Below High
Updated
Updated · Yahoo Finance · Aug 1
Robinhood Grows Q2 Event-Contracts Revenue 10-Fold to $156 Million as Shares Sit 43% Below High
3 articles · Updated · Yahoo Finance · Aug 1
Summary
$156 million in event-contracts revenue helped drive Robinhood’s second-quarter growth, with the prediction-markets business expanding tenfold even as the stock remains 43% below its peak.
Equities trading added another lift: Robinhood said Q2 equities revenue jumped 95% from a year earlier during a quarter when the S&P 500 gained 15%.
Crypto was the weak spot, with second-quarter cryptocurrency revenue falling 38% year over year as Bitcoin’s decline reversed last year’s boost.
1.9 million funded accounts were added in the quarter, up 7%, while Gold memberships rose by 1.5 million, or 39%, as Robinhood pushes credit, banking and new-market expansion.