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Robinhood Crypto Revenue Plunges 55% in Q3 Despite Record $1.42 billion Overall Revenue
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Robinhood reported record quarterly revenue of $1.42 billion as growth in options and prediction markets offset a sharp decline in cryptocurrency trading, even as the company expanded its blockchain and digital asset businesses.
Key facts
- HOOD shares fell more than 5% in after-hours trading soon after the earnings report announcement, trading near $89.50 after finishing the closing day at $94.56
- Total revenue climbed 12% year-over-year to a record $1.42 billion, while transaction-based revenue increased 19% to $867 million
- Options trading generated $399 million in revenue, up 31%, while equities revenue increased 41% to $121 million
- Robinhood Markets (Nasdaq: HOOD) reported a 55% year-over-year decline in cryptocurrency transaction revenue to $120 million during the third quarter of 2026, highlighting continued weakness
Summary
Robinhood’s crypto revenue plunged 55% year-over-year to $120 million in Q3 2026, while crypto trading volume fell 38% to $50 billion, despite record overall revenue of $1.42 billion. Robinhood expanded its crypto ambitions, reporting significant trading activity on Robinhood Chain, launching international crypto services, partnering with Ripple on RLUSD, and adding $25 million in bitcoin to its corporate holdings. Prediction markets emerged as a major growth driver, generating $173 million in quarterly revenue, more than six times the year-earlier figure, helping offset weakness in cryptocurrency trading. Robinhood Markets (Nasdaq: HOOD) reported a 55% year-over-year decline in cryptocurrency transaction revenue to $120 million during the third quarter of 2026, highlighting continued weakness in its crypto trading business despite broader growth across the financial services platform.