Robinhood Q2 predicts market revenue will surpass cryptocurrency and stock trading revenue

In the second quarter, Robinhood's projected market revenue surpassed that of cryptocurrency and stock trading, driving its total trading-related revenue to grow by 44% year-over-year, reaching $776 million.

The trading platform stated that event contracts generated $156 million in revenue, while cryptocurrency trading revenue was $100 million, a decrease of 38% year-over-year. Stock trading revenue was $129 million.

"We achieved record revenue and set new highs in trading volume for stocks, options, and event contracts, while continuing to gain market share," said Robinhood CFO Shiv Verma in a statement.

Robinhood stated that its nominal cryptocurrency trading volume was $40 billion, which includes Bitstamp's $22 billion nominal trading volume. Robinhood acquired Bitstamp last year.