Robinhood Markets reported a double digit gain in revenue for the second quarter and beat expectations for profit.

Shares of the mobile trading platform rose 1.8% in after hours trading after closing down 3% in the regular session.

The company reported second quarter earnings of 62 cents a share and revenue of $1.3 billion, up 32.5% from a year earlier. Wall Street had expected earnings of 43 cents a share and revenue of $1.29 billion.

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Leading up to the earnings report, investors and analysts were prepared to look closely at just how much the recent downturn in cryptocurrency trading has weighed on the brokerage firm's results. Even though Robinhood offers a variety of financial services and products, it derives a significant chunk of revenue from crypto trading, which has declined in previous quarters.

Analysts anticipate Robinhood will report earnings of 43 cents per share, according to estimates compiled by FactSet. That is a penny higher than what the Menlo Park, Calif.-based company reported a year ago.

Whatever decline Robinhood sees from crypto trading, bullish investors in the company are hoping to see it more than offset by revenue related to stock and options trading, as well as the company's burgeoning prediction markets business. Analysts expect revenue will come in at $1.29 billion for the second quarter compared with $989 million for the same period last year.

Bitcoin is down 47% over the past 12 months and was trading at $63,115 as of midmorning Tuesday. Analysts anticipate the company will report crypto-related trading revenue of $87.6 million. That is a far cry from the $160 million of cryptocurrencies revenue it reported for the second quarter of 2025 (which was up 98% year over year).

Although crypto trading may be in a slump, Robinhood's prediction markets offering has taken off. The service allows customers to place wagers on the outcome of events, such as whether the Federal Reserve will raise interest rates or which team will win the World Cup.

Analysts expect Robinhood's costs have risen. They anticipate that operating expenses rose to $777 million for the quarter, FactSet estimates show. That compares with $550 million for the same period last year.

Shares of Robinhood have struggled this year and are down 21% as of Tuesday morning. The benchmark S&P 500 index is up 8%. In June, the company said it would cut around one-tenth of its full-time employees. Robinhood had about 2,900 workers at the end of 2025.

In addition to top- and bottom-line numbers, analysts and shareholders will be looking for updates on Robinhood's product launches and stated strategy of becoming customers' one-stop financial app. In recent years, the company has been broadening its offerings for customers, launching credit cards and wealth management.