Robinhood (HOOD) exceeded Wall Street expectations in its third-quarter earnings report, driven by a surge in cryptocurrency revenue, while announcing that its chief financial officer will retire next year.
The trading platform reported earnings per share of $0.61, surpassing analysts’ forecast of $0.53, and posted total net revenue of $1.27 billion, doubling from a year ago and exceeding projections of $1.2 billion. Revenue growth was supported by cryptocurrency transactions, which jumped more than 300% to $268 million, alongside a 132% increase in equities revenue.
Robinhood CEO Vlad Tenev highlighted the company’s ongoing expansion, pointing to growing prediction markets, the rollout of Robinhood Banking, and the upcoming launch of Robinhood Ventures. “Our team’s relentless product velocity drove record business results in Q3 and we’re not slowing down,” Tenev said in the earnings release.
Alongside its financial results, Robinhood announced that CFO Jason Warnick will retire in the first quarter of 2026. Shiv Verma, currently an insider at the company, is set to succeed him.
Despite strong results, Robinhood stock fell about 1.5% in premarket trading on Thursday. Shares have surged nearly 40% since the company joined the S&P 500 in September and are up 280% year-to-date, making Robinhood the index’s top performer this year.
The company’s recent stock rally has been fueled by new products, including tokenized stocks in Europe, prediction markets, and crypto staking services aimed at increasing customer wallet share. Prediction markets alone generated over 4 billion contracts this year, with more than 2 billion placed in the third quarter, analysts estimate, contributing roughly $40 million in revenue.
Analysts also noted that crypto revenue may continue to rise in the second half of 2025 and beyond, supported by higher fees and staking rewards for token holders.
