Robinhood Q3 profit misses estimates as crypto revenue plunges, shares fall after hours
What happened
Robinhood reported Q3 EPS of $0.51, missing analysts' expectations, on revenue of $1.42 billion, up 12% year over year to a record, while net income fell 14% to $476 million. Crypto revenue fell 55% from a year earlier, when crypto markets were near bull-market highs, even as total crypto revenue rose 20% sequentially to $120 million and crypto transaction revenue was $94 million. Options revenue rose 31% to $399 million and equities revenue rose 41% to $121 million, while net interest revenue fell 9% to $415 million. Prediction-market event contracts generated $173 million, up 11% sequentially and more than 6x a year earlier, and Robinhood Chain brought in $26 million in its first quarter on mainnet, processing over $80 billion in DEX volume. Robinhood lowered the top end of its 2026 adjusted operating-expense forecast by $25 million, to $2.675-2.75 billion. Average revenue per user was $200 versus a $201.09 consensus. Shares fell 7.2% after hours to $87.74 in the Dow Jones/Morningstar wire at 19:37 ET, with other snapshots showing a roughly 5.5% decline.
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Start your free 14-day trialWho’s affected
- HOOD (direct; EPS miss and crypto-revenue collapse drove a 5-7% after-hours fall)
- COIN and other crypto-exposed brokers/exchanges (same crypto-trading revenue headwind)
- Retail-trading and prediction-market names (Robinhood's prediction-market and Chain results are a read on those growth bets)
- Options and equities trading platforms (options +31% and equities +41% show where retail activity actually went)