Investing.com — Robinhood reported Wednesday third-quarter results that topped Wall Street estimates, driven by a boom in revenue from crypto trading and the trading platform touted strong activity in prediction markets just as Chief Financial Officer Jason Warnick is set to retire.
Warnick is set to transition from his role as CFO in Q1, but will remain as strategic advisor for the through Sept. 1, 2026 and be succeeded by Robinhood finance veteran Shiv Verma as the next CFO
Robinhood Markets Inc (NASDAQ:HOOD) shares fell over 5% in aftermarket trading following the report.
The company reported Q3 earnings of $0.61 per share on revenue of $1.27 billion. Analysts were expecting earnings of $0.51 a share on revenue of $1.19B.
Revenue surged 100% in Q3 from a year earlier, driven by a 129%% jump in the transaction revenue, with crypto and options transaction revenue leading the gains, up over 300% and 50% respectively.
“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,” the company said.
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