Robinhood's Q3 trading revenue jumps 129% YoY, 'primarily driven by cryptocurrency revenue'

Shares of Robinhood’s stock, ticker HOOD, were up over 4.15% at market close on Wednesday after the U.S.-based brokerage posted third-quarter gains. The firm saw transaction-based revenues jump 129% year-over-year to $730 million, “primarily driven by cryptocurrencies revenue,” according to the earnings report. 

Crypto revenue was up over 300% in Q3 to $268 million. Options revenues, Robinhood’s largest revenue source, were up about 50% to $304 million, while equities trading revenue increased 132% to $86 million. 

“Q3 was another strong quarter of profitable growth, and we continued to diversify our business, adding two more business lines — Prediction Markets and Bitstamp — that are generating approximately $100 million or more in annualized revenues,” Chief Finance Officer Jason Warnick said in a release.

In total, Robinhood’s total revenue came in at $1.27 billion, more than the $1.19 billion expected, while earnings per share came in at $0.61, ahead of estimates around $0.53, according to CNBC projections. 

This is compared to Robinhood’s Q2 gains, which saw crypto trading volume increase 32% year-over-year to $28 billion and transaction-based cryptocurrencies revenue climb 98% to $160 million.

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Meanwhile, the number of funded customers on Robinhood increased by 2.5 million year-over-year to a record 26.8 million in Q3, corresponding with “total platform assets” growing nearly 120% to a record $333 billion.

Of note, Robinhood has been working to increase its footprint in the European market, including through its acquisition of Bitstamp, a deal closed in June that enabled it to roll out crypto perps across the EU, and a partnership with Arbitrum to launch over 400 Stock Tokens mirroring U.S. equities. 

The firm also acquired the Canada-based WonderFi exchange in an all-cash $179 million deal in Q2 2025.