Robinhood reported an adjusted EBITDA of $808 million for the third quarter, surpassing market expectations. Total net revenue reached $1.42 billion, marking a 12% increase compared to the previous year. This growth was primarily driven by performance in options, equities, and event contracts.
The company experienced a significant decline in its digital asset segment, with crypto revenue falling 55% year-over-year to $120 million. Despite this contraction, the platform saw a 19% rise in total assets to $396 billion and recorded $16 billion in net deposits.
Profitability metrics showed mixed results, as diluted earnings per share dropped 16% to $0.51, and adjusted EPS declined 3% to $0.60. The number of funded customers grew by 7% to 28.7 million, while the company reported a 21% trailing twelve-month growth rate for deposits.
CEO Vlad Tenev highlighted the diversification of the business, noting that 14 distinct business lines now generate over $100 million in annualized revenue each. Event contracts were identified as a key growth driver alongside traditional trading products.
