TLDRRobinhood’s second quarter revenue rose 32% to a record $1.31 billion, with net income up 48% to $573 million.Event contract revenue jumped more than tenfold to $156 million, overtaking crypto trading revenue for the first time.Crypto transaction revenue fell 38% to $100 million, even though total crypto trading volume reached $40 billion.Robinhood closed its WonderFi acquisition, entering Canada, and launched Robinhood Chain’s public mainnet along with Stock Tokens.Shares fell about 3.4% ahead of the earnings release, and dropped further after hours despite earnings beating estimates.Robinhood Markets reported record revenue for the second quarter of 2026. Total net revenue reached $1.31 billion, up 32% from a year earlier.Net income rose 48% to $573 million. Diluted earnings per share came in at $0.62 for the quarter ended June 30.Part of that gain came from a one-time item. The company said $129 million of net income was tied mainly to the deconsolidation of Robinhood Ventures Fund I.Transaction-based revenue climbed 44% to $776 million. This category covers trading in options, equities, event contracts and crypto.Event Contracts Drive GrowthEvent contract revenue reached $156 million for the quarter. That is more than ten times what it was a year ago.Over 13.6 billion event contracts were traded in the quarter. Rothera, Robinhood’s prediction market exchange built with Susquehanna International Group, has processed more than 3.5 billion contracts since launching in June.Options revenue rose 29% to $342 million. Equities revenue climbed 95% to $129 million.Robinhood’s Chief Financial Officer Shiv Verma said the business was performing well across its product lines. The company now counts thirteen business lines that each bring in more than $100 million a year.Crypto Revenue Keeps FallingCryptocurrency transaction revenue dropped 38% to $100 million. This was another quarterly decline for that part of the business.Robinhood reported $40 billion in total crypto trading volume. Of that, $18 billion came from its own app and $22 billion came through Bitstamp, the exchange it bought last year.Volume on Robinhood’s app alone fell 35% from a year earlier. Bitstamp supplied more than half of all crypto activity reported this quarter.Even with lower trading revenue, Robinhood kept expanding its crypto lineup. It launched the public mainnet for Robinhood Chain, an Ethereum layer-2 network, and rolled out Stock Tokens for users in over 120 countries.The company also debuted Robinhood Earn, its first lending product built on decentralized finance. It completed the purchase of WonderFi, adding platforms Bitbuy and Coinsquare and marking its entry into Canada.International funded customers passed one million for the first time. Robinhood did not report how much revenue WonderFi added on its own.Net deposits totaled $21.7 billion for the quarter. Total platform assets grew 32% to $369 billion.Robinhood Gold subscribers rose 39% to 4.8 million. Average revenue per user increased 24% to $187.Operating expenses grew 33% to $734 million. Robinhood pointed to marketing costs, restructuring charges and spending on new ventures such as Rothera for the increase.Robinhood shares closed at $89.84 the day before the report, down about 3.4%. The stock slipped further after hours even though adjusted earnings beat analyst estimates.Robinhood also lowered its 2026 expense outlook. It now expects adjusted operating expenses and stock-based compensation between $2.675 billion and $2.775 billion, down from its earlier range.The company flagged regulation as a risk for its fastest growing product. It warned that new laws or enforcement actions could limit which event contracts it can offer going forward.The post Robinhood Q2 2026 Earnings: Revenue Hits $1.31 Billion as Crypto Falls appeared first on Blockonomi.