Robinhood Misses Q3 Earnings as Crypto Revenue Rises and Prediction Market Bets Grow
Summary
Robinhood reported third-quarter revenue of $1.42 billion and earnings of $0.51 per share, both below analyst expectations. Net income fell 14% year over year to $476 million, partly reflecting a $67 million unrealized investment loss. Event-contract trading reached a record 16.4 billion contracts and generated $173 million in revenue. Crypto revenue rose from the prior quarter to $120 million but fell 55% year over year; crypto trading volume declined 38% to $50 billion. Robinhood Chain, its Ethereum layer-2 network, launched in July, and the company announced that Ripple’s RLUSD stablecoin will be available on the chain and Bitstamp. Robinhood narrowed its 2026 expense outlook.
