Robinhood (HOOD) earnings: Crypto revenue slumps, but tops diminished forecasts
Summary
Robinhood’s third-quarter crypto transaction revenue fell 55% year over year to $120 million, while crypto trading volume dropped 38% to $50 billion. Crypto contributed 8.4% of total revenue, down from about 21% a year earlier. Overall revenue rose 12% to $1.424 billion, driven by options, equities and prediction markets, though earnings per share missed forecasts. Robinhood said its blockchain network recorded more than $80 billion in decentralized exchange volume and over $50 million in chain fees in its first mainnet quarter; it did not say how much of those fees it recognized as revenue. Shares fell about 5% after hours.
