Robinhood’s second-quarter earnings have surpassed analyst forecasts, largely due to increased cryptocurrency trading. The financial services company reported significant growth in revenue, with crypto-related activity playing a key role in its strong performance.
On Wednesday, Robinhood reported yet another robust quarter, surpassing Wall Street’s expectations due to the trading platform’s integrating Bitstamp and the surge in crypto activity.
The company’s earnings indicate its increasing influence in the digital asset market and its efforts to expand beyond retail trading.
Robinhood’s revenue for the second quarter of 2025 was $989m, a 45% year-over-year increase that exceeded analysts’ expectations of $908m.
The anticipated $0.31 was exceeded by $0.42 in earnings per share. Transaction-based revenues experienced a 65% increase, with cryptocurrencies playing a substantial role in the expansion.
USDG Stablecoin Launch Strengthens Robinhood’s EU Play
Crypto revenue increased by 98% to $160 million, primarily due to the advantages of its Bitstamp acquisition from earlier this year and the increased trading volumes. Robinhood has expanded its regulatory footprint to over 50 global licenses as a result of this agreement, which has enabled the provision of crypto services in 30 European countries.
Since the acquisition, Bitstamp’s $7 billion in trading volume indicates that Robinhood is making significant progress in its endeavor to compete with Coinbase in retail crypto trading.
Concurrently, the organization has broadened its product assortment. It has introduced USDG, a stablecoin entirely regulated in the EU, and implements Bitcoin futures.
Users in the United States and Europe can now access crypto staking services, which provide yields on digital assets and increase user engagement.
Customer Accounts Climb to 26.5M With Strong Deposit Inflows
There was a nearly twofold increase in total platform assets from the previous year to $279 billion, partially due to the rise in crypto valuations. Funded customer accounts increased by 2.3 million to 26.5 million, while net deposits reached $13.8 billion, representing a 25% annualized growth rate. The average revenue per user increased by 34% to $151 as Robinhood’s crypto business and retail activity were bolstered.
Robinhood’s European expansion has expanded beyond cryptocurrency. Tokenized US equities and ETFs have experienced a surge in popularity throughout the region, as they capitalize on the increasing demand for fractional ownership. The company perceives tokenization as a means of accessing new markets, such as real estate and art, as investors become more receptive to digital assets.
The Bitstamp acquisition, which bolstered Robinhood’s crypto capabilities, resulted in an additional $65 million in costs for 2025. Management anticipates that the total operating expenses for the year will fall within the range of $2.15 billion to $2.25 billion.
Gold Subscription Base Jumps 76% to 3.5M Users
The adjusted EBITDA margins were 56%, despite the increased costs. Investor confidence is evident in that shares experienced a minor decline following the earnings release, as investors expressed concerns regarding expenses. However, the company has maintained a 185% year-to-date increase.
The company’s subscription service, Robinhood Gold, continues to be a significant factor. High-yield cash sweep balances exceeded $30 billion, and subscriber numbers increased by 76% to 3.5 million. Robinhood’s initiatives to transition into long-term wealth management have been bolstered by expanding retirement accounts to $20 billion in assets.
Nearly $1 billion in contracts were traded in the company’s prediction markets during the previous quarter, with significant interest in crypto-related wagers. The move enhances Robinhood’s status as a multifaceted platform that caters to diverse investors when combined with tokenized assets and traditional products.
The crypto industry continues to be concerned about regulatory risk; however, Robinhood’s proactive compliance approach, which is supported by Bitstamp’s licenses, has given it an advantage. The company’s shares have experienced a 420% return over the past year due to its ability to capture both meme-stock and crypto trading activity.
