Robinhood delivered adjusted EPS of 42 cents, comfortably beating the analyst consensus of 31 cents. The company reported revenues of $989 million, beating estimates of $908 million. Funded customers climbed by 2.3 million to 26.5 million, beating expectations.
Robinhood beat Wall Street expectations for the second quarter Wednesday, extending a hot streak that has made it the best-performing large-cap U.S. tech stock this year.
Here is how Robinhood’s results compared to Wall Street estimates, according to analysts surveyed by LSEG:
Earnings per share: 42 cents vs. 31 cents expected Revenue: $989 million vs. $908 million expected
Revenue jumped 45% year-over-year to $989 million, while net income more than doubled to $386 million, up 105% from the same quarter last year.
The number of funded customers climbed by 2.3 million to 26.5 million, topping the StreetAccount estimate of 26.1 million. Investment accounts also grew 10% year-over-year to 27.4 million.
Total platform assets nearly doubled, rising 99% from a year earlier to $279 billion, driven by strong net deposits, acquired assets, and higher