Robinhood Q3: Crypto drop offsets growth in options and event contracts

Robinhood shares declined by 5 percent in after-hours trading following the release of its third-quarter financial results.

The company reported that its net income decreased to $468 million, or 51 cents per share, down from $556 million, or 61 cents per share, in the same period last year. Total revenue reached $1.42 billion, matching Wall Street expectations compiled by LSEG. This figure marked a 12 percent increase from the $1.27 billion recorded in the prior year.

Transaction-based revenue amounted to $867 million, falling short of the $879 million estimate from StreetAccount. The shortfall prompted scrutiny of the firm's ability to maintain growth across its trading divisions while reducing dependence on fluctuating market activity. Over the past year, net deposits on the platform totaled $71 billion, representing 21 percent growth compared with total platform assets at the end of the third quarter of 2025.

Revenue from event contracts increased by more than 500 percent, becoming a primary driver of the 19 percent year-over-year rise in transaction-based income. Options revenue grew by 31 percent to reach $399 million, while equities revenue climbed 41 percent to $121 million. These gains were counterbalanced by a 55 percent drop in cryptocurrency revenue, which fell to $120 million.

Chief Financial Officer Shiv Verma stated that event contracts tied to crypto movements performed well during the quarter. He noted that these products offered investors an alternative method to express views on the cryptocurrency market despite the decline in prices and spot trading volumes.

Robinhood continues to invest in wealth management, subscriptions, and other offerings as it expands its brokerage application into a wider financial services platform. Net deposits for the quarter totaled $15.7 billion, equating to a 17 percent annualized growth rate based on total platform assets at the end of the second quarter of 2026.