cryptodnes.bg
Robinhood’s second-quarter earnings showed significant growth, with revenue reaching $682 million, a 40% increase from the previous year.
This figure surpassed the anticipated $643.3 million forecasted by analysts.
In this quarter, transaction revenue soared to $387 million, marking a 69% rise year-over-year. Within this, options trading contributed $182 million (+43% YOY), cryptocurrency transactions added $81 million (+161% YOY), and equities brought in $40 million (+60% YOY).
Net interest revenue climbed to $285 million, reflecting a 22% annual increase. Additionally, other sources of revenue, including subscriptions to Robinhood Gold, totaled $70 million, up 19% from the previous year.
By the end of the quarter, Robinhood Gold had attracted 2 million subscribers, an impressive 61% increase over the year, adding 750,000 new accounts.
The company reported earnings per share of 21 cents, exceeding the projected 15 cents. Robinhood also saw record net deposits of $13.2 billion, representing an annual growth rate of 41%. Assets under custody rose to $139.7 billion, a 57% increase from the previous year.
The number of funded accounts grew to 24.2 million, up by 1 million from the previous quarter.
Robinhood CEO Vlad Tenev highlighted the company’s commitment to innovation and customer value, noting the accelerated growth driven by their expanded subscriber base. CFO Jason Warnick expressed optimism about their continued profitability, citing record revenues and earnings per share in the second quarter.