Robinhood (HOOD) Earnings News: Strong Crypto Results Help Drive Earnings Beat

Robinhood reported a remarkable 339% year-over-year increase in its third-quarter crypto trading revenue, reaching $268 million. The company experienced $80 billion in crypto trading volume during the quarter. Adjusted earnings per share (EPS) stood at $0.61, surpassing the expected $0.53, while total net revenue was $1.27 billion, above the forecast of $1.21 billion. Despite the positive earnings report, Robinhood's shares fell by 2% in after-hours trading, though they remain up approximately 260% year-to-date. CFO Jason Warnick indicated ongoing profitable growth and the introduction of new business lines, including Prediction Markets and Bitstamp, projected to generate over $100 million in annual revenue. As Robinhood strengthens its crypto presence, the acquisition of Bitstamp has expanded its regulatory footprint and user base globally. The firm's market capitalization now stands at $126 billion, placing it above competitors like Coinbase.

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