Robinhood Q3 revenue misses estimates as event contracts volume hits record

Robinhood reported third-quarter revenue of $1.42 billion, slightly below the roughly $1.43 billion expected by Wall Street. Earnings per share came in at $0.51, missing the $0.55 projected by analysts. Net income for the quarter was $476 million, down 14% from $556 million a year earlier. Customers traded $50 billion in crypto during the period, with $21 billion on the Robinhood app and $29 billion through Bitstamp.

Event contracts revenue rose to $173 million in the third quarter, up from $156 million in the second quarter. Customers traded a record 16.4 billion event contracts, more than seven times the volume of a year earlier. Robinhood Chain went live on July 1 as a layer-2 network running on top of Ethereum. By the end of August, the network had earned about $3.13 million in fees over 30 days. CEO Vlad Tenev admitted that Robinhood Chain has outrun internal forecasts and expectations.

Robinhood announced a deal with Ripple to bring the RLUSD stablecoin to Robinhood Chain and Bitstamp. RLUSD has a market value above $2.5 billion. The company trimmed the top of its 2026 cost guidance to a range of $2.675 billion to $2.75 billion. Robinhood shares closed Tuesday at about $94.61 and slipped in after-hours trading. The stock is down roughly 18% this year and about 37% below its 52-week high of $150.47.