Robinhood posts $1.31 billion in net revenue
Robinhood reported its best quarter ever, with net revenue of $1.31 billion, up 32% from a year ago. Net income hit $573 million, and total platform assets climbed to $369 billion.
Net deposits set a record near $21.7 billion. The company’s event contracts generated $156 million, up more than tenfold year over year.
Crypto revenue fell 38% from $160 million a year ago, while options and equities revenue increased. Options rose 29% to $342 million, and equities rose 95%.
The company’s strong performance was driven by multiple business lines, with 13 lines generating over $100 million in revenue.