Robinhood Posts Record $1.31 Billion in Q2 Revenue as Prediction-Market Sales Jump More Than 10-Fold

Robinhood posted record second-quarter revenue, led by sharp growth in its prediction-market business centered on event contracts.

Wu Blockchain reported on July 29 that Robinhood's second-quarter net revenue rose 32% from a year earlier to a record $1.31 billion.

Net income increased 48% to $573 million, while diluted earnings per share were 62 cents.

Transaction-based revenue climbed 44% to $776 million. Event-contract revenue reached $156 million, surging more than 10-fold from a year earlier and driving overall growth. Revenue from options and equities trading also rose sharply.

By contrast, cryptocurrency trading revenue fell 38% from a year earlier to $100 million, diverging from the trend in the prediction-market business.

Net deposits hit a record $21.7 billion in the second quarter.