Webull reported record second-quarter revenue of $198 million, but cryptocurrency trading contributed only a small share of that total.
In its Wednesday earnings release, the online brokerage and digital trading platform said crypto trading generated $2.25 million in the second quarter of 2026, or a little more than 1% of total quarterly revenue. Revenue for the period rose 51% year over year.
Equities and options remained the core business
Webull said equities and options trading brought in $112 million during the quarter, equal to about 56% of the company’s $198 million in revenue. That left crypto as a much smaller contributor to the firm’s overall income mix.
Speaking on the company’s Wednesday earnings call, Webull president and director Anthony Michael Denier said, 「For the first time, probably in the last nine months, I am starting to see the clouds start to part in the crypto business, and that is a very positive thing.」
Denier also said the company was in the process of gradually rolling out crypto deposit and withdrawal capabilities.
Comparison with Robinhood’s recent results
Robinhood, another online brokerage, also posted record quarterly results on July 30. Its crypto transaction revenue, however, fell 38% to $100 million from about $160 million a year earlier.
Cointelegraph said it had approached Webull for more details on how its cryptocurrency trading revenue compared with previous quarters.
Revenue topped estimates and shares advanced
According to analyst estimates compiled by Yahoo Finance, Webull’s quarterly revenue came in slightly above Wall Street consensus of $194.5 million.
Webull shares rose 8.9% on Wednesday and were up nearly 15% in pre-market trading on Thursday. As of 10:37 am UTC on Thursday, the stock changed hands at $9.98 per share.