Robinhood crypto revenue falls 55% to $120m in third quarter
The quarterly total topped Wall Street analyst forecasts of $114.1 million despite total crypto trading volume falling 38 percent across the platform.
Key takeaways
- 1Robinhood Q3 crypto transaction revenue fell 55% year-on-year to $120 million, beating expectations of $114.1 million.
- 2Crypto accounted for 8.4% of total quarterly revenue, down from 21% a year earlier.
- 3Total crypto trading volume dropped 38% to $50 billion, split between Robinhood ($21 billion) and Bitstamp ($29 billion).
- 4Overall company revenue rose 12% to $1.424 billion, supported by growth in options and prediction markets.
- 5Robinhood Chain processed over $80 billion in decentralised exchange volume in its first quarter on mainnet.
Robinhood Markets recorded $120 million in cryptocurrency transaction revenue for the third quarter of 2026, down 55 percent from $267 million recorded in the same quarter of the previous year. CoinDesk reported that the total exceeded Wall Street analyst expectations of $114.1 million despite the sharp annual contraction in retail trading.
Cryptocurrencies accounted for 8.4 percent of Robinhood's total quarterly revenue of $1.42 billion, down from approximately 21 percent of overall sales in the third quarter of last year. The decline in revenue was driven by reduced trading activity among users across the company's consumer platforms. Overall cryptocurrency trading volume dropped 38 percent year-on-year to $50 billion across all Robinhood services during the three-month period.
Individual trading venues within the company registered notable drops in volume. Trades executed through the primary Robinhood mobile application fell 48 percent to $21 billion. Meanwhile, volume processed through cryptocurrency exchange Bitstamp, which Robinhood acquired to expand its international presence, fell 28 percent to $29 billion.
The decrease in digital asset income contrasted with performance in Robinhood's conventional trading units. Overall net revenue grew 12 percent year-on-year to $1.424 billion, slightly missing Wall Street targets of $1.43 billion. Options revenue expanded 31 percent to $399 million, while equities trading income rose 41 percent to $121 million. Prediction markets generated $173 million in revenue, more than six times the figure recorded in the same period last year.
Robinhood posted third-quarter earnings per share of $0.51, coming in lower than Wall Street consensus expectations of $0.55 per share. Robinhood shares traded down by approximately 5 percent in post-market sessions following the release of the financial report.
The company also released operational metrics for Robinhood Chain, its proprietary blockchain network. During its first quarter operating on mainnet, the network processed over $80 billion in decentralised exchange trading volume and generated more than $50 million in chain fees. Robinhood did not specify how much of the $50 million in chain fees was counted toward its reported corporate revenue figures.
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