Robinhood revenue rises 12% as options and event contracts boost growth
Photo: Crypto Briefing
Prediction markets and options trading offset a 55% plunge in crypto revenue, but a transaction revenue miss sent shares lower after hours Robinhood just showed what happens when your old favorite product cools off and the new kids step up. The company posted third-quarter total net revenue of $1.42 billion, a 12% increase from the same period last year that landed in line with expectations. The growth didn’t come from crypto. It came from options and event contracts, while crypto revenue fell by more than half. Investors still found something to frown at.
Source: Crypto Briefing
