Robinhood Crypto Revenue Falls 55% as Total Revenue Hits Record
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Robinhood posted record third-quarter revenue of $1.42 billion, while revenue from cryptocurrency transactions fell 55% from a year earlier.
Robinhood Markets reported $1.42 billion in third-quarter revenue, its highest quarterly total, despite a steep drop in revenue from cryptocurrency transactions.
Crypto transaction revenue declined 55% compared with the same quarter a year earlier. Growth in options trading and prediction markets helped offset that weakness and lifted overall results.
The decline came as the Nasdaq-listed company continued expanding its blockchain and digital asset operations, highlighting a contrast between its broader crypto push and quarterly trading revenue.
Source: Bitcoin.com News
