Robinhood Markets Inc (NASDAQ:HOOD) reported second quarter 2026 results that exceeded Wall Street expectations, with record revenue and stronger-than-expected earnings.

However, shares the trading platform slipped about 3% post-earnings as investors focused on the impact of the one-time accounting benefit and a decline in cryptocurrency revenue.

The company reported diluted earnings per share of $0.62, up 48% year-over-year and above analyst estimates of $0.43 to $0.44.

Net revenue reached a record $1.31 billion, rising 32% from a year earlier and slightly ahead of expectations of around $1.28 billion to $1.29 billion. Adjusted EBITDA came in at $741 million, above forecasts of approximately $630 million.

Net income increased 48%…