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Robinhood’s crypto business roared back in Q3, with revenue tripling year-over-year and fueling one of the firm’s strongest quarters yet as it broadens into prediction markets and international crypto trading.
What’s the Scoop?
- Crypto comeback: Robinhood’s crypto revenue soared 300% to $268 million, helping drive total transaction-based revenue up 129% to $730 million.
- Beat the Street: The company reported $1.27 billion in total revenue, well above expectations of $1.19 billion, with earnings per share hitting $0.61 versus projections of $0.53.
- Customer growth: The platform now counts 26.8 million funded accounts, up 2.5 million from last year, with total assets climbing 120% to a record $333 billion.
