Robinhood Revenue Climbs 12% as Crypto Revenue Drops 55%

Robinhood Markets reported third-quarter revenue of $1.42 billion, up 12% from a year earlier, while crypto revenue fell 55% to $120 million, and diluted earnings per share also declined.

The Oct. 27 results showed diluted earnings per share of 51 cents, down 16% year over year. Adjusted earnings per share fell 3% to 60 cents.

Robinhood Chief Financial Officer Shiv Verma said customers entrusted the company with more assets as it delivered its product roadmap. “Customers are trusting us with more of their assets as we deliver on our product roadmap, leading to our highest quarter ever for revenues,” Verma said.