Robinhood’s Q2 Market Revenue Projected to Surpass Cryptocurrency and Stock Trading Revenues
53 minutes ago
Robinhood’s prediction market revenue exceeded that of its crypto and stock trading segments in the second quarter, driving its total transaction-related revenue up 44% year-over-year to $776 million. The trading platform said event contracts generated $156 million in revenue, while crypto trading revenue stood at $100 million, down 38% year-over-year. Stock trading revenue came in at $129 million. “We delivered record revenue and set new highs in stock, options, and event contract trading volumes while continuing to gain market share,” Robinhood CFO Shiv Verma said in a statement. Robinhood reported its crypto notional trading volume hit $40 billion, including $22 billion from Bitstamp, which the firm acquired last year.
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