Robinhood Q3 Earnings Miss Forecast Despite Record Revenue
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Robinhood reported record revenue of $1.42 billion, but quarterly earnings fell short of expectations as crypto revenue and prediction market activity increased.
Robinhood generated a record $1.42 billion in revenue in the third quarter, according to Decrypt.
Earnings came in at $0.51 per share, below the $0.55 analysts had expected. The revenue milestone therefore did not translate into an earnings beat.
Crypto revenue rose modestly, while bets tied to sports and elections grew to $173 million, reflecting increased activity in prediction markets.
Source: Decrypt
