TLDR
Robinhood’s Q3 crypto revenue jumped 339% year-over-year to $268 million, driven by $80 billion in crypto trading volume.
Total company revenue doubled to $1.27 billion, beating analyst estimates of $1.2 billion, with earnings per share at 61 cents versus expected 51 cents.
Transaction-based revenues increased 129% to $730 million, with crypto contributing $268 million to that total.
Bitstamp acquisition and prediction markets are generating approximately $100 million or more in annualized revenues.
HOOD shares rose 4.15% during trading to $142.48 but dropped over 2% after hours, though stock remains up 280% year-to-date.
Robinhood Markets posted strong third-quarter results on Wednesday. The trading platform’s crypto business drove much of the growth.
$HOOD (Robinhood Markets) #earnings are out: pic.twitter.com/Ngetq7uT0x
— The Earnings Correspondent (@earnings_guy) November 5, 2025
The company reported $268 million in crypto revenue for Q3. That represents a 339% increase from the same period last year.
Robinhood processed $80 billion in crypto trading volume during the quarter. The company has been pushing deeper into digital assets this year.
Robinhood Markets, Inc., HOOD
Total revenue for the quarter reached $1.27 billion. That doubled from the previous year and beat Wall Street estimates of $1.2 billion.
Earnings per share came in at 61 cents. Analysts had expected 51 cents per share.
The company’s transaction-based revenues rose 129% to $730 million. Crypto made up a big chunk of that growth.
Robinhood has been working to capture both retail and institutional crypto users. The company completed its acquisition of Bitstamp in June.
New Revenue Streams Taking Shape
CFO Jason Warnick highlighted two new business lines during the earnings call. Prediction markets and Bitstamp are already generating about $100 million or more in annualized revenues.
“Q4 is off to a strong start in October, with record monthly trading volumes across equities, options, prediction markets, and futures,” Warnick said. The company also reported new highs for margin balances.
Robinhood’s market capitalization now stands at $126 billion. That puts it above rivals like Coinbase, which reported its own strong earnings last week.
CEO Vladimir Tenev discussed the company’s tokenized stock offerings with investors. He acknowledged they’re not as interoperable as the company would like.
“That’s just because they’re actually not on DeFi yet,” Tenev said. He expects greater interoperability over time.
Stock Performance and Market Response
HOOD shares closed regular trading Wednesday up 4.15% at $142.48. The stock has gained over 280% so far this year.
However, shares dropped more than 2% in after-hours trading to under $140. The decline came despite the strong earnings beat.
The stock hit an all-time peak of $152.46 on October 9. A crypto market crash shortly after prevented further gains.
Robinhood has been expanding its crypto presence beyond basic trading. The company now offers prediction markets and tokenized stocks.
Tenev told investors the company has “some options” to boost global availability of its prediction market offering. “As a scaled traditional player, but also on the crypto side, I think we’ll have our pick of what’s best in each jurisdiction,” he said.
The CEO expects the crypto community to build bridges and wrappers for the company’s tokenized offerings. This would help address interoperability concerns over time.
Robinhood’s third-quarter crypto revenue of $268 million compares to just $61 million in the same quarter last year. The acquisition of Bitstamp expanded the company’s regulatory presence and user base across more than 50 countries.
