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Robinhood Pushes Beyond Retail Trading
Posted
July 31, 2025
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July 31, 2025
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5:03Now PlayingRobinhood posted second-quarter revenue that beat Wall Street estimates, boosted by strength in cryptocurrency trading. Total net revenue climbed 45% from a year earlier to $989 million, the company said Wednesday in a statement. That topped the $921.5 million average estimate of analysts surveyed by Bloomberg. Net income more than doubled to $386 million, or 42 cents a share, also better than expected. Cryptocurrency revenue increased 98% to $160 million, just missing a sixth consecutive quarter of triple-digit growth. Analysts expected crypto revenue of $162.1 million.
In June, Robinhood drew swift regulatory scrutiny in Europe after it started offering “tokenized” equities — cryptocurrency’s version of company shares — for 150,000 customers in 30 countries. Tokenization “is the biggest innovation our industry has seen in the past decade,” Chief Executive Officer Vlad Tenev said in the statement.
Robinhood wants to go global and serve more than just retail customers, says CEO Vlad Tenev. Second-quarter earnings beat estimates and the company is now worth more than Intel. Tenev talks about expansion plans with Matt Miller and Sonali Basak on Bloomberg's Open Interest.
Shares of Menlo Park, California-based Robinhood rose 0.2% at 10:57 a.m. in New York. The stock has surged 185% this year.
The third quarter “is off to a great start in July, as customers accelerated their net deposits to around $6 billion and leaned in with strong trading across categories,” Chief Financial Officer Jason Warnick said in the statement.
As other financial-technology companies apply for various kinds of bank charters and Robinhood rolls out its own bank-like products, Tenev said he prefers working with banks, rather than moving to become one outright.
“The cons have outweighed the pros of getting a charter,” Tenev said on a Wednesday call with analysts. Robinhood is working with fintech-friendly Coastal Community Bank on its bank-like products, Tenev said.
He also said during an interview Thursday with Bloomberg Television that in some ways, Robinhood views banks as partners, but also as competitors.
“In financial services, the large companies have always collaborated and competed across different axes,” Tenev said.
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