Robinhood Q2 Predicts Market Revenue to Surpass Crypto and Equities Trading Revenue

BlockBeats News, August 3rd, Robinhood's forecasted market revenue for the second quarter exceeded revenue from cryptocurrency and stock trading, driving its total transaction-based revenue up by 44% year-on-year to $776 million.

The trading platform stated that options contract revenue generated $156 million, while cryptocurrency trading revenue was $100 million, a 38% year-on-year decrease. Stock trading revenue amounted to $129 million.

“We achieved record revenue and set new highs in stock, options, and event contract trading volumes, while continuing to gain market share,” said Robinhood's Chief Financial Officer Shiv Verma in a statement.

Robinhood indicated that its cryptocurrency nominal trading volume was $40 billion, including Bitstamp's $22 billion nominal trading volume. Robinhood acquired Bitstamp last year.