Robinhood’s Q3 trading revenue jumps 129% YoY, ‘primarily driven by cryptocurrency revenue’

Robinhood announced significant third-quarter gains, causing its stock to rise, as transaction-based revenues jumped 129% year-over-year to $730 million, primarily driven by cryptocurrency revenue, which increased over 300% to $268 million. Options revenues, the largest source, grew about 50% to $304 million, while equities trading revenue increased 132% to $86 million. Overall, total revenue reached $1.27 billion, exceeding expectations, with earnings per share at $0.61, also beating estimates. The company also noted growth in its user base, with funded customers reaching a record 26.8 million, and total platform assets growing nearly 120% to $333 billion. CFO Jason Warnick highlighted profitable growth and the addition of new business lines like Prediction Markets and Bitstamp, which contribute significantly to annualized revenues.

(Source：The Block)