Robinhood Delivers Strong Q2 Earnings as Digital Asset Activity and Bitstamp Deal Boost Revenue

Robinhood Surpasses Q2 Expectations as Crypto Revenue Nearly Doubles, Strategic Deals Bear Fruit

Robinhood (HOOD) reported second-quarter earnings that beat Wall Street expectations, fueled by a sharp rise in crypto trading activity and early returns from recent acquisitions.

The brokerage platform posted $160 million in crypto-related revenue for Q2, up 98% from the same period last year. Total revenue reached $989 million, a 45% year-over-year increase and above the $928.8 million analyst estimate, according to FactSet. Adjusted earnings per share came in at $0.42, beating the $0.31 consensus and doubling from a year earlier.

Crypto trading volume rose to $28.3 billion for the quarter, reflecting increased user engagement and stronger market conditions.

“We delivered a strong quarter driven by product innovation and momentum in our crypto business,” said CEO Vlad Tenev. “The launch of tokenization represents a foundational shift for financial markets, and we’re proud to be leading that transformation.”

Robinhood shares have rallied 177% so far in 2025, outperforming all other major U.S. tech stocks. Its market cap now stands at $91 billion, just behind rival Coinbase (COIN), which is set to report earnings Thursday. Analysts forecast $1.59 billion in revenue and $1.25 in earnings per share for Coinbase.

The quarter also marked significant progress on Robinhood’s global crypto strategy. In June, the firm acquired Bitstamp for $200 million and WonderFi for $179 million, expanding its regulated footprint across North America and positioning it for further growth.

In Europe, Robinhood has begun offering tokenized versions of stocks and ETFs—digital representations of traditional assets that can be traded in fractional amounts via blockchain.

Shares of HOOD were largely unchanged in post-market trading, while COIN saw modest gains.