Wall Street · CoinDesk
Robinhood's crypto revenue fell 55% from last year, but topped Street forecasts
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Robinhood's HOOD $94.61 · Market Closed third-quarter cryptocurrency trading business was down 55% from last year but still topped Street forecasts.
Key facts
- Options trading generated $399 million in revenue, up 31%, while equities revenue climbed 41% to $121 million
- Third-quarter EPS of $0.51 was less than consensus forecasts for $0.55
- That left crypto accounting for 8.4% of Robinhood's $1.42 billion in total quarterly revenue, compared with roughly 21% a year earlier
- Robinhood's HOOD $94.61
- Market Closed third-quarter cryptocurrency trading business was down 55% from last year but still topped Street forecasts
Summary
Robinhood's crypto trading revenue fell 55% year-over-year to $120 million in the third quarter, accounting for 8.4% of total revenue, down from 21% a year earlier. That $120 million, though, was ahead of Street forecasts for $114.1 million. Shares were lower by 5% in after-hours trading as overall revenue and EPS missed forecasts. Crypto transaction revenue dropped to $120 million in the third quarter, according to the company's earnings report released Tuesday.