Robinhood Profit Falls as Weaker Crypto Trading Offsets Broader Market Activity

Robinhood Markets reported lower third-quarter profit as a steep decline in cryptocurrency revenue outweighed stronger activity in equities, options and event contracts. The results cover the three months ended September 30, 2026.

Profit declines despite record revenue

Net income fell 14% year over year to $476 million, or $0.51 in diluted earnings per share, from $556 million, or $0.61 per share, a year earlier. The company said total net revenue nevertheless rose 12% to a record $1.424 billion.

Transaction-based revenue increased 19% to $867 million. Robinhood's official release attributed the gain primarily to event-contract revenue of $173 million, options revenue of $399 million and equities revenue of $121 million.

Crypto revenue drops 55%

Cryptocurrency revenue fell 55% year over year to $120 million. The decline was the main drag on the quarter, while activity in other asset classes benefited from a more active trading environment.

Robinhood said its net interest revenue declined 9% to $415 million, while other revenue rose 61% to $142 million. Operating expenses increased 16% to $739 million, including higher credit-loss provisions and investments in growth.

Customer and asset growth continues

Funded customers increased by 1.9 million, or 7%, from a year earlier to 28.7 million. Investment accounts reached 30.4 million, and total platform assets rose 19% to $396 billion. Net deposits during the quarter were $15.7 billion.

Robinhood's shares fell 3.4% after the results, according to Reuters. The figures leave the company balancing expansion in newer products such as event contracts against weaker demand for cryptocurrency trading.

Sources: Reuters report; Robinhood official Q3 2026 results; Robinhood investor relations.