Robinhood Markets, Inc. (HOOD) shares fell 3.15% to close at $89.84 on July 29, 2026, then dropped a further 4.09% in after-hours trading to $86.17, even after the company reported robust second-quarter results spanning revenue growth, profit expansion, record trading volumes, and account growth. The after-hours decline came as weaker cryptocurrency revenue and elevated operating costs tempered investor reaction, illustrating how expectations for diversified fintech platforms have risen even as Robinhood broadens its business well beyond its origins as a commission-free stock trading app.

Revenue Growth Driven by Options, Equities, and Event Contracts

Robinhood posted total net revenue of $1.31 billion for the second quarter, a 32% increase year-over-year. Transaction-based revenue climbed 44% to $776 million, buoyed by strength in options, equities, and event contracts. Cryptocurrency revenue, however, declined 38% to $100 million, partially offsetting gains across other trading categories. The crypto pullback underscores the volatility inherent in digital asset trading revenue, which can swing sharply quarter to quarter with token prices and retail trading sentiment.

Net interest revenue rose 9% to $389 million as interest-earning assets expanded across the platform. Other revenue grew 54% to $143 million, supported by subscription services and Trump Account service fees. The combination of these gains drove broad-based revenue growth across multiple business lines, reflecting Robinhood's ongoing shift toward a more diversified income mix less dependent on any single trading category.

Net income surged 48% to $573 million, with diluted earnings reaching $0.62 per share. The quarterly results included $129 million in gains primarily tied to the deconsolidation of Robinhood Ventures Fund I. Adjusted EBITDA increased 35% to $741 million, and total share buybacks reached $1.3 billion since Q3 2024.

Customer Assets and Trading Volumes Hit Record Levels

Funded customers grew 7% to 28.4 million, while investment accounts rose 9% to 29.9 million. Total platform assets advanced 32% to $369 billion, propelled by net deposits and higher equity valuations. Quarterly net deposits reached $21.7 billion, representing a 28% annualized growth rate.

Robinhood Gold subscribers increased 39% to 4.8 million, and average revenue per user climbed 24% to $187. Retirement assets surged 82% to $34.5 billion, while the margin book expanded 127% to $21.6 billion. Cash and deposits on the platform reached $18.7 billion, up 34% from the prior year. The retirement and banking growth positions Robinhood more directly against established brokerages and neobanks that have long competed for long-term household assets.

Equity trading volume jumped 85% to a record $956 billion during the quarter. Options contracts traded rose 50% to 774 million, and event contracts exceeded 13.6 billion. Total crypto trading volume came in at $40 billion, comprising $22 billion from Bitstamp and $18 billion through Robinhood's own platform.

New Products and International Expansion Broaden the Business

Robinhood Legend, the company's advanced desktop trading platform, surpassed $100 million in annualized revenue approximately 18 months after its customer rollout. Nearly 100,000 customers opened Agentic Trading accounts, collectively holding over $100 million in assets.

Prediction markets continued to expand through Rothera, Robinhood's exchange venture with Susquehanna International Group. Event contracts have emerged as a notable revenue contributor, capitalizing on growing retail interest in prediction markets. The Robinhood Gold Card crossed one million customers and reached $17 billion in annualized purchase volume. Robinhood Banking held more than $3 billion in deposits from over 240,000 funded customers, while Robinhood Strategies reached nearly $2 billion in managed assets across more than 300,000 customers.

On the international front, funded customers outside the United States exceeded one million. Robinhood completed its acquisition of WonderFi and launched Robinhood Chain's public mainnet for financial applications. The company also introduced stock tokens, decentralized lending, and European perpetual futures, with plans to launch cryptocurrency services in the United Kingdom. The international and blockchain-related initiatives represent Robinhood's most aggressive push yet into global markets and on-chain financial infrastructure, areas where regulatory clarity and competitive density will be key factors to monitor in coming quarters.