- Robinhood saw a 339% increase in crypto trading revenue year-over-year in the third quarter.
- The company handled $80 billion in crypto trading volume, generating $268 million in crypto-related revenue.
- Adjusted earnings per share were $0.61, above estimates of $0.53, with total net revenue of $1.27 billion surpassing forecasts.
- Robinhood added two new business lines, Prediction Markets and Bitstamp, contributing roughly $100 million or more in annualized revenue.
- Its market value reached $126 billion, exceeding competitors like Coinbase.
Robinhood reported a sharp rise in crypto trading revenue for the third quarter, driven by expanded digital asset activity and global market growth. The company recorded these results on Wednesday, emphasizing its growing presence in the crypto space.
During this quarter, Robinhood managed $80 billion in crypto trading volume and earned $268 million in crypto-related revenue, compared to $61 million from the same period last year. It posted adjusted earnings per share (EPS) of $0.61, surpassing analyst projections of $0.53. Total net revenue reached $1.27 billion, ahead of the expected $1.21 billion.
Chief Financial Officer Jason Warnick highlighted ongoing profitability and business diversification. “Q3 was another strong quarter of profitable growth, and we continued to diversify our business, adding two more business lines — Prediction Markets and Bitstamp — that are generating approximately $100 million or more in annualized revenues,” he said. He also noted that October had strong starts with record trading volumes across various product lines, including equities, options, prediction markets (which allow users to bet on outcomes), and futures.
Robinhood now holds a market capitalization of $126 billion, surpassing competitors like Coinbase, which also recently reported robust earnings. The company’s expanded crypto footprint included acquiring Bitstamp earlier this year, increasing its regulatory reach and user base in over 50 countries.
For additional details, see the official earnings report.
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