Online brokerage and digital trading platform Webull announced on Wednesday that cryptocurrency trading accounted for $2.25 million, or slightly more than 1%, of the company's record $198 million revenue for the second quarter of 2026.
According to the company's Wednesday earnings release, overall quarterly revenue increased by 51% year-over-year. Equity and options trading drove the majority of the income, generating $112 million, or approximately 56% of the total $198 million.
Webull president and director Anthony Michael Denier spoke about the digital asset sector during a Wednesday earnings call, stating that he is beginning to see positive movement in the crypto business for the first time in about nine months. Denier also noted that the company is in the process of gradually rolling out cryptocurrency deposit and withdrawal features.
The platform's quarterly revenue exceeded the Wall Street consensus estimate of $194.5 million, based on analyst projections compiled by Yahoo Finance. Following the earnings release, Webull's stock price increased by 8.9% on Wednesday and rose nearly 15% in pre-market activity on Thursday, trading at $9.98 a share as of 10:37 am UTC.
In comparison, online brokerage competitor Robinhood reported its own quarterly results on July 30, showing that its crypto transaction revenue declined by 38% to $100 million compared to approximately $160 million a year earlier.
