Latest news with #JasonWarnick
Yahoo
31-07-2025
- Business
- Yahoo
Robinhood stuns Wall Street with shocking revenue hike
Robinhood stuns Wall Street with shocking revenue hike originally appeared on TheStreet. Robinhood Markets (Nasdaq: HOOD), the trading exchange offering stocks and cryptocurrencies, recorded a 45% year-over-year (YoY) hike in its total net revenue for the second quarter of 2025. The company's net revenue in Q2 2025 stood at $989 million. In contrast, the figure stood at $927 million in Q1 2025 and $682 million in Q2 2024. Transaction-based revenues rose 65% YoY to $539 million, with crypto transaction revenue rising by an extraordinary 98% to $160 million. Total platform assets increased 99% YoY to $279 billion, driven by higher equity and crypto valuations, among other factors. Net income grew 105% YoY to $386 million. Diluted earnings per share (EPS) grew by an astonishing 100% YoY to $0.42. Robinhood App's crypto notional trading volume rose 32% YoY to $28 billion. Cash and cash equivalents totaled $4.2 billion, as compared to $4.5 billion at the end of Q2 June launch On June 2, Robinhood closed the acquisition deal of Bitstamp, a leading crypto exchange, at approximately $200 million. On June 30, the trading exchange launched an array of new crypto products, including over 200 tokenized U.S. stocks and exchange-traded funds (ETFs) to its EU customers, crypto perpetual futures to eligible EU customers, and crypto staking to eligible U.S. customers. Robinhood chairman and CEO Vlad Tenev said: 'We delivered strong business results in Q2 driven by relentless product velocity, and we launched tokenization— which I believe is the biggest innovation our industry has seen in the past decade.' Robinhood's chief financial officer Jason Warnick said: 'Q2 was another great quarter as we drove market share gains, closed the acquisition of Bitstamp and remained disciplined on expenses. And Q3 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.' The HOOD stock, which hit a record high of $113.44 on July 18, closed at $106.10 on July 30 as the company released the earnings report after the closing bell. Robinhood stuns Wall Street with shocking revenue hike first appeared on TheStreet on Jul 30, 2025 This story was originally reported by TheStreet on Jul 30, 2025, where it first appeared. Sign in to access your portfolio
Reuters
31-07-2025
- Business
- Reuters
Robinhood tops profit expectations as trading frenzy sweeps across asset classes
July 30 (Reuters) - Robinhood Markets (HOOD.O), opens new tab exceeded second-quarter profit estimates on Wednesday, driven by a massive surge in volumes as investors traded options, crypto and stocks. The strong results add to a run of recent successes for the Menlo Park, California-based online brokerage, which has been aggressively rolling out new products to expand beyond its core user base and become a more integral part of customers' financial routines. They also underscore the resilience of retail investors, who have stayed active despite tariff-related turbulence, and highlight their key role in the current financial landscape. "When the market drops, our customers tend to lean in and buy. It feels like there's more room for retail engagement from here," Chief Financial Officer Jason Warnick said, adding that the momentum had carried into July. The company more than doubled its profit to $386 million, or 42 cents per share, for the three months ended June 30. Analysts were expecting 31 cents per share, according to data compiled by LSEG. Transaction-based revenues increased 65% to $539 million from last year. Crypto revenue jumped 98%, options soared 46% and equities climbed 65%. Shares were up marginally in choppy after-market trading. They have nearly tripled so far this year, compared with a 9% gain in the Nasdaq composite index (.IXIC), opens new tab. Robinhood is rapidly establishing itself as a major force across asset classes, evolving beyond its origins as a stock-trading app. But the expansion has faced hurdles. Last month, it launched tokens allowing users in the European Union to trade U.S.-listed stocks, alongside a limited offering providing exposure to private companies such as OpenAI and SpaceX. OpenAI pushed back, arguing that it did not endorse the tokens. Still, Robinhood CEO Vlad Tenev called tokenization "the biggest innovation our industry has seen in the past decade." Earlier this month, Robinhood was also floated as a potential candidate to be included in the S&P 500 (.SPX), opens new tab index. Such a move typically lifts the stock by triggering buying from funds that track the index. But the spot eventually went to Datadog (DDOG.O), opens new tab, a cloud security firm worth $52 billion. "It's flattering to be in the conversation," Warnick said. "It's a really strong signal that we've been on the right track. But it's not something I'm distracted by at all." Robinhood has cemented its hold in areas of consumer finance beyond trading. It launched a credit card for its Gold subscribers last year, and has since added a wealth management service with fee caps for those users. The expanded lineup has made the premium subscription more attractive, driving a 76% increase to 3.5 million users. "It's clear the retail crowd is back, and they're not just YOLOing, now they're subscribing to Gold, swiping the new credit card, and dropping deposits like it's 2021 again," said David Bartosiak, stock strategist at Zacks Investment Research.
Yahoo
30-07-2025
- Business
- Yahoo
Robinhood Just Reported a Blowout Quarter
Key Takeaways Robinhood Markets shares moved higher in after-hours trading on Wednesday after diluted earnings per share and revenue materially exceeded expectations. The online trading platform said its stellar results were driven by higher trading in options, crypto, and stocks. CEO Vlad Tenev called tokenization the industry's "biggest innovation" of the last Markets (HOOD) reported a blowout earnings beat The trading platform, which caters to retail investors, in its latest quarter benefitted from a return of speculative investing and meme-stock mania, with a jump in transaction-based revenue across categories. Year-over-year gains were driven by higher trading in options, crypto, as well as stocks. Robinhood's second-quarter earnings materially exceeded expectations. Its reported diluted earnings per share of $0.42, doubling year-over-year. Revenue came in at $989 million. Analysts surveyed by Visible Alpha expected $0.30 in diluted EPS and $920 million in revenue. Robinhood CFO Jason Warnick said on a conference call that the trading platform had a strong start to the third quarter, with July equity and options trading volumes setting monthly records. Crypto volumes at both Robinhood and its European crypto exchange Bitstamp are at six-month highs, he stock was relatively quiet in after-hours trading, recently rising about 1% after climbing a bit less than 3% in the regular session. The stock has been on an upward tear this year as it leaned into its crypto business and rolled out new products including blockchain-based stock tokens in Europe and staking for ethereum (ETHUSD) and solana (SOLUSD); the shares are up almost 170% year-to-date. CEO Vlad Tenev in a statement said Robinhood's "relentless product velocity" drove its strong second-quarter results and said tokenization was "the biggest innovation" the industry has seen in years. The company stands to benefit from relaxed day-trading rules if the Financial Industry Regulatory Authority heeds the brokerage's comments that guidelines were more harmful than helpful to investors, and a troublesome source of customer complaints. Robinhood raised its full-year outlook for adjusted operating expenses slightly to account for its acquisition of Bitstamp, which closed in the second quarter. This article has been updated since it was first published to add new information and update share-price movement. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
30-07-2025
- Business
- Business Times
Robinhood tops profit expectations as trading frenzy sweeps across asset classes
[BENGALURU] Robinhood Markets exceeded second-quarter profit estimates on Wednesday (Jul 30), driven by a massive surge in volumes as investors traded options, crypto and stocks. The strong results add to a run of recent successes for the Menlo Park, California-based online brokerage, which has been aggressively rolling out new products to expand beyond its core user base and become a more integral part of customers' financial routines. They also underscore the resilience of retail investors, who have stayed active despite tariff-related turbulence, and highlight their key role in the current financial landscape. 'When the market drops, our customers tend to lean in and buy. It feels like there's more room for retail engagement from here,' chief financial officer Jason Warnick said, adding that the momentum had carried into July. The company more than doubled its profit to US$386 million, or 42 US cents per share, for the three months ended Jun 30. Analysts were expecting 31 US cents per share, according to data compiled by LSEG. Transaction-based revenues increased 65 per cent to US$539 million from last year. Crypto revenue jumped 98 per cent, options soared 46 per cent and equities climbed 65 per cent. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Shares rose 1.6 per cent after market close. They have nearly tripled so far this year, compared with a 9 per cent gain in the Nasdaq composite index. Expansion drive Robinhood is rapidly establishing itself as a major force across asset classes, evolving beyond its origins as a stock-trading app. But the expansion has faced hurdles. Last month, it launched tokens allowing users in the European Union to trade US-listed stocks, alongside a limited offering providing exposure to private companies such as OpenAI and SpaceX. OpenAI pushed back, arguing that it did not endorse the tokens. Still, Robinhood CEO Vlad Tenev called tokenisation 'the biggest innovation our industry has seen in the past decade'. Earlier this month, Robinhood was also floated as a potential candidate to be included in the S&P 500 index. Such a move typically lifts the stock by triggering buying from funds that track the index. But the spot eventually went to Datadog, a cloud security firm worth US$52 billion. 'It's flattering to be in the conversation,' Warnick said. 'It's a really strong signal that we have been on the right track. But it's not something I'm distracted by at all.' Robinhood has cemented its hold in areas of consumer finance beyond trading. It launched a credit card for its Gold subscribers last year, and has since added a wealth management service with fee caps for those users. The expanded lineup has made the premium subscription more attractive, driving a 76 per cent increase to 3.5 million users. REUTERS
Yahoo
30-07-2025
- Business
- Yahoo
Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
-- Robinhood Markets Inc (NASDAQ:HOOD) shares rose 2.8% in after-hours trading Wednesday following second-quarter results that sharply beat Wall Street expectations on both profit and revenue. The strong performance reflected robust growth in crypto and options trading, as well as continued expansion of the firm's active customer base. The Menlo Park-based brokerage reported diluted earnings per share of $0.42, doubling from the prior year and surpassing analysts' forecasts of $0.30. Total net revenue surged 45% year-over-year to $989 million, handily beating the $908.32 million consensus estimate. Transaction-based revenue jumped 65% to $539 million, driven by a 98% rise in cryptocurrency trading and a 46% increase in options revenue. Net deposits reached $13.8 billion for the quarter, with total platform assets nearly doubling to $279 billion amid heightened trading activity and valuation gains. 'We delivered strong business results in Q2 driven by relentless product velocity, and we launched tokenization—which I believe is the biggest innovation our industry has seen in the past decade,' said Vlad Tenev, Robinhood's CEO. CFO Jason Warnick added, 'Q2 was another great quarter as we drove market share gains, closed the acquisition of Bitstamp and remained disciplined on expenses.' The company also reported 26.5 million funded customers, up 10% from a year ago, and 3.5 million Robinhood Gold subscribers, a 76% annual increase. Notably, average revenue per user rose 34% to $151, and retirement assets under custody exceeded $20 billion following a 50% increase since January. Robinhood has continued to diversify beyond trading into financial advisory and crypto services, including the rollout of Robinhood Strategies, now managing over $500 million for 100,000 clients. The acquisition of Bitstamp in June and the planned purchase of Canada's WonderFi highlight the firm's move to deepen its crypto and international footprint. The quarterly gains, driven by a combination of user growth, product innovation, and operational leverage, resonated with investors looking for sustainable expansion. Related articles Robinhood shares gain on Q2 beat, as user and crypto growth accelerate Clients buying into summer rally, bracing for later pullback, says BofA's Hartnett These Under-the-Radar Stocks Offer Better Risk-Reward Ratio Than Nvidia Sign in to access your portfolio
