Robinhood slides 4% as crypto revenue drops 38%
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- Robinhood beat Q2 estimates with adjusted EPS of $0.62 (vs. $0.43 consensus) and record revenue of $1.31B (up 32% YoY), but shares dropped ~4% in after-hours trading after closing down 3.1% during Wednesday's regular session.
- Crypto trading revenue fell 38% YoY to $100M from $160M, while transaction revenue overall was lifted by surging options, equities, and prediction markets activity.
- Robinhood Chain, a new blockchain network for tokenized U.S. stocks targeting eligible European customers, has generated hundreds of millions in daily DEX volume, with tokenized GameStop, Nvidia, and SpaceX emerging among the most actively traded real-world assets.
- Agentic Trading AI tools let customers connect third-party AI assistants to their brokerage accounts for automated market monitoring and trade execution, with manual approval, separate trading accounts, and spending limits built in.
- Vlad Tenev said product velocity across Robinhood Chain, Robinhood Ventures, and 'Trump Accounts' is 'focused on one goal: making everyone an owner.'
- Coinbase reports Q2 earnings Thursday, and Robinhood's crypto-trading weakness offers an early read on retail crypto sentiment for COIN investors.
Why it matters: The 4% after-hours slide despite a clean earnings beat shows crypto weakness now outweighs record transaction revenue in investors' minds — and with Coinbase reporting Thursday, this 38% crypto revenue decline previews what COIN traders should brace for on the retail-crypto side.
