Online broker Robinhood posted record revenue and profit in the second quarter, but cryptocurrency trading revenue fell 38% year-on-year.
According to the company's earnings report released Wednesday, revenue increased 32% year-on-year to US$1.31 billion, and net profit increased 48% to US$573 million.
The company reported that cryptocurrency trading revenue fell to US$100 million from approximately US$160 million a year ago. In addition, cryptocurrency trading volume for the quarter was US$40 billion, of which Robinhood apps contributed US$18 billion, while cryptocurrency exchange Bitstamp, acquired in June 2025, contributed US$22 billion.
During the quarter, Robinhood continued to expand its digital asset business, launching Robinhood Chain's public main network, launching tokenized U.S. stocks to eligible users in more than 120 countries, and launching its decentralized lending product Robinhood Earn for the first time. The company also completed its acquisition of Canadian encryption platform WonderFi and said it plans to expand its digital asset services in the UK. In addition, the report shows that nearly 100,000 customer accounts have registered for Agency Trading, with assets in custody exceeding US$100 million.
Robinhood's share price fell 3.15% on Wednesday before the earnings release, according to Yahoo Financial data.

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