Robinhood’s Earnings Soar Thanks to Cryptocurrency Trading

Robinhood's Q2 Earnings Boosted by Cryptocurrency Trading

Shares in Robinhood Markets Inc. climbed over 3% in late trading following a surprising second-quarter earnings beat, driven primarily by a surge in customer trading, especially in cryptocurrency. For Q2 ending June 30, Robinhood reported adjusted earnings per share (EPS) of 21 cents, a significant increase from three cents per share in the same quarter of 2023, on revenue of $682 million, marking a robust 40% year-over-year growth. Analysts had anticipated EPS of 15 cents on the same revenue figure.