Robinhood’s crypto transaction revenue fell 55% in the third quarter, while growth in options, stocks, and prediction markets boosted total revenue, but shares fell about 5% after earnings.
According to results reported by CoinDesk, the company generated $120 million in revenue from crypto transactions in the third quarter of 2026. Despite a sharp drop from about $267 million in the same period last year, revenue exceeded analysts’ estimate of $114.1 million.
Crypto’s share of Robinhood’s total revenue also fell from about 21% to 8% in a year. By contrast, the company’s total revenue rose 12% to $1.424 billion, coming in slightly below analysts’ expectations of $1.43 billion.
Other areas grew as crypto trading declined
Total crypto trading volume fell 38% year over year to $50 billion. Volume on the Robinhood app declined 48% to $21 billion, while volume on Bitstamp fell 28% to $29 billion.
Revenue from other areas of trading increased. Options trading generated $399 million, up 31%, while stock trading revenue rose 41% to $121 million. Revenue from prediction markets reached $173 million, more than six times the level in the same period last year.
This picture shows Robinhood’s revenue mix shifting from crypto to other trading areas; no data was disclosed indicating that the same users sold crypto and moved into these areas.
Crypto revenue beat expectations but couldn’t protect the stock
The company’s earnings per share came in at $0.51, below expectations of $0.55. Robinhood shares fell about 5% in after-hours trading following the results.
More than $80 billion in volume on Robinhood Chain
Despite the contraction in crypto trading, the company continued to expand its blockchain operations. In Robinhood Chain’s first quarter operating on mainnet, decentralized exchange trading volume exceeded $80 billion, while network fees topped $50 million.
Network fees are a separate measure from the $120 million in reported crypto transaction revenue. Robinhood did not disclose how much of these fees it recorded as its own revenue.
Not investment advice.