Robinhood reported record revenue of $1.42 billion for the quarter, falling slightly short of the expected $1.43 billion. Earnings per share reached $0.51, missing the forecast of $0.55. Despite these results, crypto-related revenue grew to $120 million, a 20% increase from the second quarter.
Trading volume for crypto assets totaled $50 billion, with $29 billion processed through Bitstamp. Meanwhile, the company's event contracts business generated $173 million in revenue, driven by a record 16.4 billion contracts traded. These emerging sectors now account for over 20% of the company's total revenue.
The Robinhood Chain, launched on July 1, has exceeded internal growth expectations. By late August, the network generated higher fees over a 30-day period than Ethereum or Base. CEO Vlad Tenev announced plans to increase investments in the ecosystem to support developers building on the chain.
Following the earnings call, tokens associated with the Robinhood Chain ecosystem saw significant gains, rising between 20% and 50%. Projects such as Orbio, AI (Long), and Pons experienced notable price increases. Robinhood intends to provide further support to these builders as it treats tokenized equities as a foundational primitive.
