Robinhood Q2: Double Beat, Crypto Revenue Nearly Doubles
1. Robinhood's Q2 revenue rose 45% year-over-year to $989 million, beating estimates. 2. Transaction-based revenue increased by 65% to $539 million, driven by options and crypto. 3. The number of funded customers grew 10% to 26.5 million, showcasing platform growth. 4. Robinhood's acquisition of Bitstamp closed, expanding its trading capabilities significantly. 5. Net deposits accelerated to $6 billion in July, indicating strong continued interest.