Robinhood’s second-quarter revenue surpassed Wall Street estimates, driven by strong cryptocurrency trading, according to Bloomberg. The trading platform reported second-quarter net revenue of $989 million, up 45% year-over-year and above the $921.5 million analyst estimate. Net income more than doubled to $386 million, or 42 cents per share, beating expectations. Cryptocurrency revenue jumped 98% to $160 million, narrowly missing analyst projections of $162.1 million. CEO Vlad Tenev highlighted tokenized equities as a major innovation despite regulatory scrutiny in Europe. Shares rose 3.34% in after-hours trading and are up 185% year-to-date.
