Robinhood posts record revenue despite crypto trading plunge

Homepage > News > Business > Robinhood posts record revenue despite crypto trading plunge TL;DR: Robinhood posted record Q3 net revenue of $1.42 billion, driven by growth in prediction markets, options and equities, despite a 55% drop in crypto revenue to $120 million. However, net income fell 14% to $415 million, partly due to a $67 million unrealized loss on its Ventures Fund I. The shift in revenue sources was also reflected in transaction revenue, with crypto’s share shrinking to 8% while prediction markets’ share grew to 12%. Key Takeaways: Robinhood revenue up despite 55% crypto plunge Prediction markets are Robinhood’s new Maid Marian, offsetting weakness in crypto trading Robinhood strikes Ripple deal to boost RLUSD stablecoin use across trading, settlements, and financing The road ahead: Prediction markets and new crypto products offer growth potential, but regulatory risks and softer trading volumes loom Trading platform Robinhood Markets (NASDAQ: HOOD) reported record revenue in the third quarter despite crypto revenue tumbling 55%, pushing crypto’s revenue share into single-digit territory. Robinhood released its Q3 financial report card on Tuesday, showing net...