Robinhood Markets reported third-quarter results after the market closed Tuesday, Oct. 27. Total net revenue rose 12% to $1.42 billion, a record and in line with Wall Street's estimate. Diluted earnings were 51 cents a share, compared with the 56 cents analysts expected, according to CNBC's LSEG survey. CNBC reported that the shares fell 4% after hours.
Net income was $476 million, down 14%. Net income attributable to Robinhood, after non-controlling interests, was $468 million. The total included $67 million in unrealized losses, mostly from marking down Robinhood Ventures Fund I.
Winners and losers inside the quarter
- Event contracts (prediction markets) revenue: $173 million, more than six times a year earlier
- Options revenue: $399 million, up 31%
- Equities revenue: $121 million, up 41%
- Crypto revenue: $120 million, down 55%
- Net interest revenue: $415 million, down 9%
CNBC noted that transaction-based revenue of $867 million fell short of the StreetAccount estimate of $879 million.
Customers and assets
Funded customers rose 7% to 28.7 million. Robinhood Gold subscribers reached a record 5.2 million, and total platform assets rose 19% to $396 billion. Net deposits were $15.7 billion for the quarter. CFO Shiv Verma said October net deposits had already topped $13 billion month to date, including $6 billion from the Dell family's contribution to Trump Accounts. The company also lowered the top of its 2026 adjusted operating expense and stock-compensation outlook by $25 million, to a range of $2.675 billion to $2.75 billion.