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Stock Trading Platform Robinhood Goes Public On The New York Stock Exchange
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Robinhood reports strong Q2 numbers

The online brokerage increased net revenues and earnings per share.

Matt Phillips

Retail brokerage Robinhood reported Q2 results after the bell on Wednesday, and beat on both earnings per share and revenue.

The crypto, options, and stock trading platform reported:

  • Diluted earnings per share of $0.42 vs. consensus estimates for $0.31, and 

  • Sales of $989 million vs. expectations of $915 million, according to FactSet. 

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. I own Robinhood stock as part of my compensation.)  

Following a tariff-related market slump that bottomed out in April, Robinhood shares have been buoyed, in part, by a fresh surge of speculation focused on AI, crypto, and a new crop of meme stocks.

The favorable backdrop has helped make the shares massive outperformers this year. They were up more than 175% through the end of trading Tuesday, compared to a gain of 9.3% for the Nasdaq Composite Index.

In a statement on the results, Robinhood CEO Vlad Tenev highlighted “robust year-over-year growth in trading across all asset classes.”

Shares initially rose after the release of the results. A conference call with analysts is to be held at 5 p.m. ET.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.