Summary
- Robinhood's Q3 trading-based revenue surged 129%, and the virtual assets division grew by more than 300%, generating 268 million dollars in revenue.
- Robinhood reported total revenue of 1.27 billion dollars and earnings per share (EPS) of $0.61, beating market expectations.
- CFO Jason Warnick said new business segments, including Prediction Markets and Bitstamp, are generating more than 100 million dollars annually, and both customer count and platform assets reached record highs in Q3.
U.S. securities and virtual assets (cryptocurrencies) trading platform Robinhood reported that trading revenue in the third quarter rose 129% year-over-year, powered by an increase in virtual asset trading.
On the 5th (local time), The Block reported that Robinhood posted total revenue of 1.27 billion dollars in Q3, beating market expectations of 1.19 billion dollars. Earnings per share (EPS) were $0.61, above the expected $0.53.
Trading revenue was 730 million dollars, up 129% year-over-year, with the virtual assets division recording nearly 300 million dollars in revenue (268 million dollars), an increase of more than 300%. Options trading revenue rose 50% to 304 million dollars, and stock trading revenue increased 132% to 86 million dollars.
Jason Warnick, Robinhood's chief financial officer (CFO), said, "Q3 was another strong quarter of growth," adding that they have added Prediction Markets and cryptocurrency exchange Bitstamp as new business segments, each generating more than 100 million dollars annually.
Robinhood's total customer count reached a record 26.8 million, an increase of 2.5 million year-over-year as of Q3, and total platform assets grew about 120% to 333 billion dollars.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
