Earnings
Robinhood posts record $1.42 billion quarterly revenue as options trading offsets a 55% drop in crypto
Options revenue rose 31% and platform assets reached $396 billion, but profit fell as interest income and crypto trading weakened.
HedgeWeekly News Desk ·
Robinhood Markets reported record third-quarter net revenue of $1.42 billion, up 12% from a year earlier, as stronger options and stock trading made up for a sharp fall in crypto activity, according to results the company filed with the SEC on Tuesday.
Transaction-based revenue grew 19% to $867 million. Options revenue rose 31% to $399 million and equities revenue gained 41% to $121 million, while crypto revenue dropped 55% to $120 million. Net interest revenue slipped 9% to $415 million, which the company put down to lower securities lending and lower short-term rates.
Net income fell 14% to $476 million, or 51 cents a diluted share, from 61 cents a year earlier; the latest figure includes a 7-cent hit from unrealised losses linked to Robinhood Ventures Fund I. Adjusted earnings were 60 cents a share. Funded customers rose 7% to 28.7 million, Gold subscribers climbed 34% to 5.2 million, total platform assets increased 19% to $396 billion and net deposits came to $15.7 billion.
For investors tracking retail flows, the mix has shifted: options now make up about 46% of transaction revenue, while crypto's share has shrunk. Robinhood said its Rothera joint venture with Susquehanna passed $100 million in annualised revenue in its first full quarter, and October net deposits topped $13 billion month to date, including $6 billion from the Dell family's contribution to Trump Accounts. It trimmed the top of its 2026 adjusted operating expense and stock-compensation range to $2.675 billion to $2.75 billion, bought back only $25 million of stock in the quarter, and plans to launch in Dubai in 2027 after winning DFSA authorisation.