The quarter Robinhood’s chain missed by one day

Robinhood reports Q2 earnings on July 29, covering a quarter that ended June 30. Robinhood Chain launched July 1. The company’s biggest strategic bet contributed exactly zero to the numbers being reported, which makes Wednesday’s call something rarer than a results event: a live interrogation of three weeks of casino data, with retail shareholders holding the microphone. Summary Robinhood reports second-quarter results after the close on July 29, with consensus at roughly $0.41 per share on about $1.27 billion in revenue and options markets pricing a 12.6% post-earnings move, well above the 9% average. The quarter ended June 30; Robinhood Chain launched July 1. The company’s defining strategic project contributed nothing to the period being reported, making the call a disclosure event about three weeks of post-quarter data rather than a results event. That data is awkward: roughly $13 million in tokenized stocks against a single memecoin that touched $156 million, daily chain fees near $198,000 inflated by a 90-day gas subsidy, and a security-incident string capped by the SCATMAN account hijack. The Q1 template looms over everything: crypto revenue fell 47% to $134 million, broke t...