Robinhood posted record Q2 revenue of $1.31 billion, driven by event contract trading and strong equity volumes, even as crypto revenue declined 38%.
Robinhood, a financial services company, has reported record revenue of $1.31 billion for the second quarter of 2026, a 32% increase from a year earlier. This came after event contracts surged more than tenfold, showing its newest revenue stream is growing much faster than digital asset trading.
In its earning report, Robinhood's net income rose 48% year over year to $573 million, while diluted earnings per share reached $0.62, comfortably exceeding analysts' expectations of $0.42.
The company also generated $741 million in adjusted EBITDA, up 35% from the same period last year.
Transaction-based revenue climbed 44% to $776 million, driven by higher trading activity across multiple asset classes. Options remained Robinhood's largest trading business, generating $342 million, up 29% year over year.
Equity trading revenue nearly doubled to $129 million, reflecting stronger retail participation and improved market conditions.
Robinhood Chairman and CEO Vlad Tenev said the company's rapid product expansion remains focused on broadening access to financial markets.
"Whether it's the Robinhood Chain, Robinhood Ventures, or Trump Accounts, our product velocity is focused on one goal: making everyone an owner."
The standout performer was event contracts, which generated $156 million in revenue, 10x higher than the same quarter last year.
Unlike traditional stock or crypto trades, event contracts allow users to take positions on the outcomes of real-world events, including interest rate decisions, elections, economic data releases, and major sporting events.
Robinhood has been investing heavily in this segment through Rothera, its CFTC-regulated prediction markets exchange, which has already processed more than 3.5 billion contracts since launch.
Chief Financial Officer Shiv Verma said Robinhood continues gaining market share while expanding beyond its traditional trading businesses.
"We delivered record revenues and drove new highs across equity, option, and event contract volumes. Our product velocity continues to deliver new products for customers and drive a more diversified business."
While Robinhood continues investing heavily in digital assets, crypto was no longer the company's primary growth driver during the quarter,
Crypto revenue fell 38% year over year to $100 million, while crypto trading volume declined from $66 billion in the first quarter to $40 billion in Q2. The slowdown followed an exceptionally strong first quarter and reflected lower retail trading activity as crypto markets became less volatile.
However, Robinhood continues expanding its long-term blockchain strategy rather than scaling it back.
Robinhood's customer metrics also reached new highs during the quarter. Platform assets increased 32% to $369 billion, supported by $21.7 billion in net deposits during the quarter. Funded customers grew to 28.4 million, while investment accounts reached 29.9 million.
Beyond investing, the company continues expanding into adjacent financial services. Its Gold Card now serves more than 1 million users with $17 billion in annualized purchase volume, while Robinhood Banking has surpassed $3 billion in customer deposits.
Management also noted that 13 separate business lines now generate more than $100 million in annualized revenue.
The latest results highlight Robinhood's broader effort to reduce its dependence on any single business segment.
Just a few years ago, crypto trading was one of Robinhood's biggest revenue drivers. Today, Robinhood's growth is increasingly being driven by prediction markets, AI-powered investing, tokenized assets, banking, and blockchain infrastructure rather than crypto trading alone.
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