Robinhood’s third-quarter crypto revenue reached $120 million, according to the company’s earnings release published on October 27, 2026. While this exceeded the $114.1 million predicted by analysts, it represents a 55% decline compared to the same period last year. However, the total increased 20% from the $100 million recorded in the second quarter.
Cryptocurrency accounted for only 8.4% of overall quarterly revenue, dropping from approximately 21% a year prior. Although the crypto segment outperformed forecasts, it occurred alongside a broader company-wide earnings miss, causing Robinhood (HOOD) shares to drop roughly 5% in after-hours trading.
July’s Chain Launch Followed a Weak Second Quarter
Event contracts generated $156 million during the second quarter, surpassing crypto revenue for the first time. Robinhood entered the third quarter with a new business sector outperforming crypto trading, alongside a blockchain debut designed to expand its digital asset footprint.
Read More: What Is Robinhood Chain? How Its $51M Debut Beat Ethereum
Robinhood Chain officially launched on July 1. According to the firm, the network handled over $80 billion in decentralized exchange trading volume and accumulated more than $50 million in chain fees throughout its first quarter on the mainnet.
Robinhood Crypto Revenue Rebounds in Q3 as Annual Trading Slows
User activity declined across both the Robinhood app and Bitstamp, the exchange acquired by Robinhood. Combined crypto trading volume dropped 38% year over year to $50 billion, driven by a 48% decrease on the Robinhood app and a 28% drop on Bitstamp.
Prediction Markets Helped Lift Robinhood Sales to a Record
Total company revenue grew 12% year over year to a record $1.424 billion, falling just short of the roughly $1.43 billion anticipated by analysts. Meanwhile, options revenue rose 31% to $399 million, and equities revenue climbed 41% to $121 million.
Prediction markets further extended their lead over crypto. Users traded a record 16.4 billion event contracts—exceeding seven times the total from the previous year—as the segment pushed well beyond its milestone from the second quarter.
Robinhood reported earnings of $0.51 per share, missing expectations of $0.55. Net income decreased 14% year over year to $476 million.
The quarter included a $67 million unrealized loss on Robinhood Ventures Fund I, amounting to $0.07 per share. Adjusted earnings, which exclude certain items, hit $0.60 per share, marking a 3% decline from the prior year.
Robinhood Signed a Ripple Deal Hours Before Earnings
Just hours before publishing the report, Robinhood disclosed a partnership with Ripple to integrate RLUSD onto Robinhood Chain and Bitstamp. Ripple will additionally provide treasury software to Robinhood and lending services for Bitstamp traders. Robinhood tightened its full-year expense projections, keeping an in-app RLUSD rollout on track for 2026.
Successfully introducing the stablecoin to the app serves as the next key product milestone. For the broader trading division, the upcoming challenge is straightforward: determining whether the recent quarterly recovery in crypto revenue can be sustained following a year of significantly reduced activity.
FAQ
How was the quarter’s $50 billion in crypto trading volume split between the Robinhood app and Bitstamp?
The Robinhood app handled $21 billion, while Bitstamp processed $29 billion, meaning the acquired exchange accounted for the larger portion of the combined volume.
Why did Robinhood shares fall despite the crypto revenue beat?
The crypto revenue beat occurred within a broader company-wide miss. Revenue of $1.424 billion came in just under the roughly $1.43 billion expected by analysts, and earnings of $0.51 per share missed the $0.55 consensus. Additionally, net income fell 14% year over year to $476 million, prompting a 5% drop in shares after hours.
How much revenue did Robinhood’s prediction markets generate in the third quarter?
Prediction markets produced $173 million, up from $156 million in the second quarter and more than six times the figure from a year earlier.
When is RLUSD scheduled to reach the Robinhood app?
The in-app launch is slated for later in 2026, forming part of the Ripple agreement announced hours prior to Robinhood’s October 27 earnings report.
What is Robinhood’s revised 2026 expense guidance?
Robinhood anticipates adjusted operating expenses and stock-based compensation between $2.675 billion and $2.75 billion. The lower bound remains unchanged from the July outlook, while the previous upper bound was $2.775 billion.
This article is for information only and is not financial advice.