Robinhood reported record revenue of $1.42 billion and earnings per share of $0.51, both below forecasts of $1.43 billion and $0.55. Crypto revenue rose 20% from the previous quarter to $120 million, but was still 55% below the $268 million reported a year earlier.
On the earnings call, CEO Vlad Tenev said Robinhood Chain had exceeded the company’s internal forecasts and that Robinhood would increase investment in it. He described programmable stock tokens and tokenized options contracts as possibilities, not announced products. The newsletter reported gains among several Robinhood Chain tokens after the call.
