Robinhood Learns to Nab Interest Income

Robinhood Markets Inc. hasn’t stolen back its momentum, but it might be getting there.

Some notable things happened in Robinhood’s results in the second quarter, announced in early August. No, it wasn’t a jump in trading. But average revenue per user ticked higher for the first time since the start of the meme-stock frenzy in the first quarter of 2021, from $53 the prior quarter to $56. Notably, that was helped by a big increase in non-transaction revenue: Net interest income grew by more than a third from the first to second quarter, to $74 million, even as transaction-based revenues dipped from $218 million to $202 million.