Robinhood reported record third-quarter revenue of $1.42 billion, but the result fell short of the roughly $1.43 billion analysts had expected. Earnings also missed forecasts, while growing activity in event contracts helped offset a sharp year-over-year decline in crypto revenue.
The trading platform said earnings were $0.51 per share, below the $0.55 projected by analysts and down from $0.61 a year earlier. Net income fell to $476 million from $556 million in the same quarter last year and $573 million in the second quarter.
According to Decrypt, the results show a mixed quarter for a company whose more than 28 million customers use its platform to trade stocks and cryptocurrencies, while increasingly gaining access to prediction-market products and sports-related contracts. Robinhood’s performance offers a view of how customer activity is shifting across newer and more established parts of its business.
Event contracts become a larger revenue source
Revenue from event contracts increased to $173 million from $156 million in the second quarter. These contracts allow customers to take positions on yes-or-no outcomes, such as the result of a sporting event, an election or an economic report. A contract pays $1 if its specified outcome occurs.
Customers traded a record 16.4 billion event contracts during the quarter, more than seven times the level recorded a year earlier. Event-contract revenue had already overtaken crypto revenue in the second quarter, and the gap widened in the latest period.
Robinhood has continued expanding this part of its platform. The company added contracts tied to NFL players and parlay-style combinations, which pay only when every selected outcome is correct. Chief Executive Vlad Tenev said in December last year that he believed prediction markets were at the beginning of a “supercycle.”
The growth gives Robinhood an additional source of transaction-related business beyond traditional securities and digital assets. It also reflects the company’s broader move into products that allow users to trade or take positions on outcomes rather than simply buy shares or tokens.
Crypto revenue recovers from the second quarter but remains lower than last year
Robinhood’s crypto revenue rose to $120 million from $100 million in the second quarter. However, it was down 55% from the $268 million recorded in the third quarter of 2025.
Customers traded $50 billion in cryptocurrencies during the latest quarter. Of that amount, $21 billion was traded through the Robinhood app and $29 billion through Bitstamp, the crypto exchange acquired by Robinhood. Total crypto trading volume was 38% lower than a year earlier.
The company’s blockchain expansion also continued. Robinhood Chain went live on July 1 as a layer-2 network built on top of Ethereum. Layer-2 networks are designed to process transactions using infrastructure connected to an underlying blockchain, with the aim of making activity faster or less expensive.
In its early weeks, Robinhood Chain activity was driven mainly by meme coins, or joke-themed tokens, rather than the tokenized stocks the network was designed to support. By the end of August, the chain had generated approximately $3.13 million in fees over a 30-day period. That compared with $2.47 million for Ethereum and $2.89 million for Base over the same period.
Before the earnings release, Robinhood announced an agreement with Ripple involving RLUSD, a stablecoin designed to maintain a value of one dollar. The agreement will bring RLUSD to Robinhood Chain and Bitstamp, with an in-app rollout planned for later this year. RLUSD has a market value above $2.5 billion. Ripple will also provide treasury software and lending services for Bitstamp traders.
Profit, expenses and the market response
The quarter included a $67 million unrealized loss on Robinhood Ventures Fund I. An unrealized loss is a decline in the paper value of an investment that has not been sold. Robinhood said the item reduced earnings by $0.07 per share.
Adjusted earnings per share, which exclude certain items, were $0.60, down 3% from a year earlier. The difference between adjusted and reported earnings reflects the treatment of items such as the investment valuation loss.
Robinhood reduced the upper end of its 2026 guidance for adjusted operating expenses and stock-based compensation. The company now expects the combined figure to range from $2.675 billion to $2.75 billion, compared with the previous range of $2.675 billion to $2.775 billion announced in July.
Robinhood shares closed Tuesday at approximately $94.61 and declined in after-hours trading following the report. The stock is down about 18% this year and approximately 37% below its 52-week high of $150.47.
Moneyiar market picture
Moneyiar data at the stated times showed mixed performance among the listed digital assets:
- edgeX (EDGE) was priced at $0.3244313833, up 0.81% over 24 hours and 13.63% over seven days, as of October 25, 2026, at 22:38 +03:30.
- Billions Network (BILL) was $0.0139971939, down 0.59% over 24 hours and up 10.04% over seven days, as of September 21, 2026, at 01:39 +03:30.
- RedStone (RED) stood at $0.1452603192, down 2.72% over 24 hours and up 6.36% over seven days, as of October 25, 2026, at 22:39 +03:30.
- Loaded Lions (LION) was $0.0011817703, down 2.39% over 24 hours and 3.06% over seven days, as of October 25, 2026, at 22:38 +03:30.
The figures illustrate the uneven short-term performance across the digital-asset names tracked by Moneyiar, as Robinhood reported stronger quarter-on-quarter crypto revenue but substantially lower crypto activity than a year earlier.
