Robinhood’s $156 Million Prediction Fees Top Stocks and Crypto as Q2 EPS Beats by 3 Cents
Updated
Updated · Yahoo Finance · Jul 30
Robinhood’s $156 Million Prediction Fees Top Stocks and Crypto as Q2 EPS Beats by 3 Cents
3 articles · Updated · Yahoo Finance · Jul 30
Summary
$156 million in Q2 prediction-market fees made event contracts Robinhood’s second-largest trading business, ahead of stock trading at $129 million and crypto at $100 million.
A World Cup-driven surge lifted wagers about 55% from Q1, while lower commissions and routing some contracts through Robinhood’s Rothera exchange improved scale and economics.
Nearly 2 million customers have now used prediction markets, up from about 1.5 million, and July daily event-contract volumes stayed near Q2 record levels.
Robinhood posted $0.48 a share excluding an accounting change, beating the $0.45 analyst forecast, as margin balances jumped 127% year over year and net deposits rose $4 billion to $22 billion.
CEO Vlad Tenev called the World Cup a proof of concept and pointed to football season and midterm elections as the next catalysts for expanding the business.