Robinhood Reports Financial Results for Q2 2021

US-based online broker Robinhood Markets, Inc. (Robinhood) has released on Wednesday its financial results for Q2 2021, ending on June 30, which disclosed that its total net revenues enjoyed a YoY increase of 131%, reaching $565 million, compared with $244 million in the second quarter of 2020.

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Robinhood’s transaction-based revenues increased by 141% to $451 million in the second quarter of 2021, compared with $187 million in the second quarter of 2020. And it detailed that the options revenue surged to $165 million, with a YoY raise of 48%; the cryptocurrencies revenue grew to $233 million, compared with $5 million in Q2 2020; and equities transaction-based revenue fell to $52 million, decreasing YoY 26%.

In terms of Net Cumulative Funded Accounts, the figure increased by YoY 130% to 22.5 million. Besides, its Monthly Active Users stood at 21.3 million, enjoying a YoY increase of 109%. as for Assets Under Custody, the number surged by YoY 205% to $102 billion, compared with that of Q2 2020 at $33 billion.

“We’re encouraged by the number of people who are accessing the financial system for the first time through Robinhood,” said Vlad Tenev, CEO and Co-Founder of Robinhood. “We’re happy to expand access through products like commission-free crypto trading, which saw strong growth this quarter among women investors in particular, and IPO Access, which gives customers an opportunity to invest in companies at their IPO price.”