Webull reported on Wednesday that cryptocurrency trading generated $2.25 million — just over 1% of the platform's record $198 million revenue for the second quarter of 2026.
Revenue for the period grew 51% year-over-year, according to the online broker and digital trading platform's earnings press release published on Wednesday.
Equity and options trading generated $112 million in quarterly revenue, or about 56% of the total $198 million.
"For the first time in the last nine months, I see clouds clearing over the crypto business, and that's a very positive note," said Webull President and Director Anthony Michael Denier during a conference call held on Wednesday. He added that the company is gradually implementing cryptocurrency deposit and withdrawal capabilities.
Online broker Robinhood also reported record quarterly results on July 30, although its crypto transaction revenue fell 38% — to $100 million from approximately $160 million a year earlier.
Cointelegraph has contacted Webull for more information on its cryptocurrency trading revenue compared to previous quarters.
The platform's quarterly revenue slightly exceeded Wall Street's consensus forecast of $194.5 million, according to analyst estimates published by Yahoo Finance. On Wednesday, Webull's stock price rose 8.9%, and in pre-market trading on Thursday, it gained nearly 15%, reaching $9.98 per share at 10:37 UTC.
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