Robinhood’s Crypto Revenue Surges 300% in Q3, Fueled by Digital Asset Demand
Robinhood Markets Inc. reported a staggering 300% year-over-year increase in crypto revenue, reaching $268 million in the third quarter. The surge contributed significantly to the company’s total revenue of $1.27 billion, which more than doubled from the same period last year.
Transaction-based revenue jumped 129% to $730 million, with cryptocurrencies accounting for over a third of that figure. Earnings per share outperformed analyst expectations, climbing 259% to 61 cents. The results underscore crypto’s growing role in Robinhood’s business model as digital assets gain traction among retail investors.
The brokerage’s acquisition of Bitstamp signals ambitions to expand its crypto operations globally. While no specific coins were mentioned in the report, the performance reflects broader market trends favoring digital assets.
