Robinhood Reports Record Quarterly Revenue as Crypto Trading Jumps

Robinhood reported record quarterly revenue of $682 million, up 40% from a year ago, driven by a surge in trading in crypto and equities.

Crypto revenue jumped 161% from a year ago to $81 million, while equities revenue rose 60% to $40 million. Net income increased to $188 million, up from $25 million a year ago.

The company’s retirement business, which Robinhood launched in late 2022 in an effort to retain investors as they age, also grew, with assets under custody soaring to $8.7 billion versus $800 million a year ago.