Robinhood's crypto revenue fell 55% from last year, but topped Street forecasts
Bullish strength: 35/100
- Crypto transaction revenue exceeded analyst expectations of $114.1 million, reaching $120 million.
- Total company revenue grew 12% year-over-year to $1.424 billion.
- Robinhood Chain processed over $80 billion in decentralized exchange trading volume and generated more than $50 million in chain fees during its first mainnet operating quarter.
Bearish strength: 65/100
- Crypto transaction revenue dropped 55% year-over-year to $120 million.
- Total crypto trading volume declined 38% to $50 billion.
- Crypto accounted for just 8.4% of total quarterly revenue, down from roughly 21% a year earlier.
- Third-quarter EPS of $0.51 missed consensus forecasts of $0.55.
- HOOD shares fell about 5% in post-market trading.
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