Robinhood Q3 Earnings Surge on Crypto Trading Boom
Robinhood's third-quarter revenue more than doubled to $1.27 billion, eclipsing Wall Street's $1.19 billion forecast. Earnings per share reached 61 cents, soaring past the 53-cent consensus and marking a dramatic improvement from 17 cents a year prior. Net income skyrocketed 271% to $556 million.
Crypto trading revenue exploded 300% year-over-year to $268 million, driving much of the upside. Options and equities revenue grew 50% and 132% respectively, demonstrating diversified strength. The platform's expansion into prediction markets and its Bitstamp acquisition are already generating over $100 million annually.
While transaction-based revenue slightly missed estimates at $730 million, Robinhood's October performance suggests accelerating momentum. Record trading volumes across all asset classes and new highs in margin balances position the company for continued growth through year-end.
