Robinhood's revenue hit a record high, but that doesn't mean crypto trading has recovered its strength.
Third-quarter 2026 total revenue was about $1.42 billion, up 12% year over year. Crypto trading revenue was $120 million, up from $100 million in the second quarter, but still down 55% year over year. Options and prediction markets contributed more to growth.
GAAP earnings per share were $0.51, down 16% year over year. Adjusted earnings per share, introduced this quarter, were $0.60. This is a non-GAAP measure and should not be directly compared with GAAP earnings per share.
Net deposits were $15.7 billion, below the $21.7 billion recorded in the second quarter. The company reported that net deposits had exceeded $13 billion in October as of the announcement, with $6 billion related to contributions from the Dell family. This shouldn't all be viewed as a return of diversified retail funds.
Going forward, the key questions are whether new funds can translate into sustained trading and whether the revenue mix can absorb costs. Data from a single platform also can't directly represent overall market flows for BTC, ETH, or BNB.
Third-quarter 2026 total revenue was about $1.42 billion, up 12% year over year. Crypto trading revenue was $120 million, up from $100 million in the second quarter, but still down 55% year over year. Options and prediction markets contributed more to growth.
GAAP earnings per share were $0.51, down 16% year over year. Adjusted earnings per share, introduced this quarter, were $0.60. This is a non-GAAP measure and should not be directly compared with GAAP earnings per share.
Net deposits were $15.7 billion, below the $21.7 billion recorded in the second quarter. The company reported that net deposits had exceeded $13 billion in October as of the announcement, with $6 billion related to contributions from the Dell family. This shouldn't all be viewed as a return of diversified retail funds.
Going forward, the key questions are whether new funds can translate into sustained trading and whether the revenue mix can absorb costs. Data from a single platform also can't directly represent overall market flows for BTC, ETH, or BNB.
