Robinhood Q3 Revenue Doubles on 300% Crypto Surge
Robinhood Q3 revenue doubled to $1.27 billion as crypto trading income surged over 300% to $270 million. Net profit rose 271% to $556 million, slightly below estimates. Trading revenue accounted for 57% of total, with stock trading up 132% and options up 50%. Crypto gains were driven by the Bitstamp acquisition and a Kalshi partnership that doubled contract volumes to 2.3 billion. The platform added 2.5 million funded accounts, reaching 26.8 million users, and holds $4.3 billion in cash. Shares initially climbed then slipped on profit-peak concerns. Robinhood Q3 revenue diversification plans include banking services, tokenized stocks, DeFi interoperability, prediction markets and international expansion.
Bullish
The 300% surge in crypto trading revenue and strong overall earnings signal robust demand for crypto services on Robinhood. Major drivers like the Bitstamp acquisition and Kalshi partnership point to sustained growth in trading volume. While shares dipped on profit-peak concerns, the diversified roadmap into tokenized stocks, DeFi interoperability and banking services underpins long-term bullish prospects for crypto trading on the platform.