Robinhood reported a decline in quarterly profit as a slowdown in cryptocurrency trading activity offset strong performance in other segments. While the company's Q3 revenue was supported by Trump-related accounts and prediction markets, the crypto segment remained a point of weakness. Overall, the results reflect a shift in trading volume during the fiscal period.
Growth in options, equities and event contracts was offset by a sharp decline in cryptocurrency, while GAAP net income fell 14% and total revenue missed analysts’ estimates.
Read the full storyA 55% drop in crypto revenue was offset by growth in event contracts, options and equities, while the company said revenue reached its highest quarterly level on record.