Robinhood Delivers Record $1.3 Billion Quarter, Adds Nearly 1 Million Customers

Robinhood reported its best quarter since going public, with second-quarter revenue of $1.31 billion, up 32% year over year, and earnings of $0.62 per share — well ahead of the $0.45 analysts expected.

The platform added nearly 1 million new funded customers, its most in five years, while net deposits hit a record $22 billion and Gold subscribers climbed to 4.8 million. Adjusted EBITDA rose 35% to $741 million, a 57% margin.

Management lowered its full-year expense outlook and raised $2.2 billion in zero-coupon convertible notes, giving the company added firepower for expansion while keeping costs in check.