Robinhood Misses, Crypto Revenue Craters 55% YoY
Robinhood's Q3 results came in slightly below expectations with crypto revenue down 55% year-over-year to $120M, sending the stock down 7% after hours.
What we know
Robinhood $HOOD reported revenue of $1.4B vs $1.42B estimated, and EPS of $0.51 vs $0.56 estimated — the miss largely driven by crypto revenue falling 55% YoY to $120M. October volumes are running near Q3 levels with management flagging tighter spreads and similar-to-lower take rates. The stock fell 7%. This contrasts with the broader crypto market recovery toward $81K, suggesting Robinhood's crypto revenue problems may be structural (take-rate compression) rather than just price-driven.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.