Robinhood Q2 Results Exceed Forecasts, Driven by Crypto Surge and Bitstamp Synergies

Robinhood Tops Q2 Estimates as Crypto Revenue Nearly Doubles and Global Expansion Accelerates

Robinhood (HOOD) posted stronger-than-expected second-quarter results on Wednesday, driven by surging crypto trading activity and the early impact of recent acquisitions.

The retail trading platform reported $160 million in crypto-related revenue for Q2, marking a 98% increase year-over-year. Total net revenue climbed 45% to $989 million, beating Wall Street’s forecast of $928.8 million. Adjusted earnings per share came in at $0.42, comfortably ahead of the $0.31 consensus estimate.

The company processed $28.3 billion in crypto trading volume during the quarter, underscoring rising user demand for digital assets.

“Our strong Q2 performance reflects rapid product development and momentum in our crypto business,” said CEO Vlad Tenev. “With the launch of tokenization, we believe we’re ushering in a new era for investing.”

Robinhood shares have surged 177% so far in 2025, outpacing all other U.S. tech stocks. The rally has lifted its market cap to $91 billion, just below Coinbase (COIN), which reports earnings Thursday. Analysts expect Coinbase to post $1.59 billion in revenue and earnings of $1.25 per share.

Robinhood’s growth is also being fueled by aggressive M&A activity. In June, it acquired crypto exchange Bitstamp for $200 million, followed by the $179 million purchase of Canadian firm WonderFi. The deals expand the company’s regulatory footprint across North America.

Robinhood is also making inroads into Europe, recently launching tokenized versions of stocks and ETFs that enable blockchain-based fractional ownership and trading.

In after-hours trading, HOOD shares were little changed, while Coinbase saw modest gains.