Robinhood’s Q3 Crypto Transaction Revenue Falls to $120 Million

Robinhood recorded $120 million in crypto transaction revenue in the third quarter, a 55% year-over-year drop that accompanied an earnings miss and a more than 7% after-hours share decline Tuesday. Earnings per share were 51 cents, short of the 55-cent analyst consensus. Total transaction-based revenue nevertheless increased about 19% to $867 million, with options revenue up 31% and event-contract revenue growing more than sixfold. Robinhood’s operating expenses rose 16% to $739 million. The increase was driven mainly by a larger provision for credit losses, investment in newer businesses including Trump Accounts and Rothera, and higher marketing costs.

Source: TokenPost